Monad Token Launch Underperforms in Initial Trading

Monad, a new blockchain project launching its native token, MON, experienced a muted market debut. While the project raised $269 million during a public sale, the token’s price initially traded below the presale price on major exchanges, leading to concerns about demand and distribution. 27% of the tokens were allocated to Monad Foundation team members, raising trust concerns amongst investors. 10.8% of the token is in circulation, impacting market valuation.