Monad jumps 12% as TVL hits $2.677B – Can MON break $0.03?
Explaining how Monad price rally resulted from its network growth.
Monad [MON] price broke out of a confined sideways range and surged over 12% in the past 24 hours. The altcoin has cemented its position among the top blockchains by DEX volume.
As the altcoin trades into strength, can its growing chain activity help it surpass hurdles blocking it from reclaiming its 2026 highs?
Analyzing Monad chain’s activity growth this month
Looking at the daily DEX volume of top chains, Monad appeared in the top 10 among major ecosystems with $191.77 million. This figure took the weekly sum to $595 million as the monthly total surpassed $1.80 billion.
Other major ecosystems in the list were Solana [SOL], Ethereum [ETH], Base, BNB Chain, and Hyperliquid [HYPE], closing the top five.
Moreover, other network activity metrics have been growing since mid-July when MON started to reverse.
For instance, the Total Value Locked (TVL) has increased from $1.205 billion to $2.677 billion. This means that TVL has more than doubled in just one month.
On top of that, the chain’s stablecoin market cap is up, a positive sign showing the presence of liquidity. That is, the market cap has expanded from $482 million to $703 million, almost double the amount in a month.
That is not all.
Active Addresses and Transactions returned to highs seen in mid-July. To be specific, Active Addresses hit 23.83K while transactions were in excess of 6.23 million.
Capital outflows had also reduced immensely by more than half, from about $17 million to $8.40 million. However, this reading showed that sellers were yet to be exhausted.
What is keeping the price from this year’s high?
Technically, the altcoin had broken from a two-and-a-half-month stagnation between $0.01911 and $0.02424. MON’s price was even above the Parabolic Sar, reinforcing the range breakout.
However, the altcoin was still struggling to breach the resistance at $0.03. This could curtail the altcoin from repeating a similar uptrend seen in April.
Good thing MON was surging from a key demand zone that resulted in this year’s peak value of $0.038. The market structure was already bullish unless the price failed to hold above $0.02434.
The selling pressure had also declined sharply from 867.67 million tokens to 15.84 million MON, according to the Accumulation/Distribution indicator.
On the contrary, failure to breach the $0.030 zone, MON might retest the breakout area at $0.02434. The rally could also be halted at $0.038 if bulls lack enough zeal to make a new year-to-date (YTD) high.
Final Summary
- Monad is up 12% as its daily DEX volume explodes alongside the network’s metrics like TVL, transactions, and liquidity.
- MON broke a sideways consolidation that lasted more than two months, flipping the market structure to bullish.
