Key Highlights
- MON experienced a 15% price increase within 24 hours, reaching approximately $0.0318, with weekly gains totaling 32.40%
- Singapore-based StraitsX intends to deploy XSGD and XUSD stablecoins natively on the Monad blockchain by early 2027
- Daily trading volume surged to $145.2 million, representing a 226.60% jump compared to the previous day’s activity
- Open interest in perpetual contracts climbed to $188.2 million, approximately 50% of MON’s total market capitalization
- The Monad team hinted at upcoming privacy enhancements before their October 6 Open Summit event
The native token of the Monad blockchain network, MON, experienced a 15% appreciation over a 24-hour period. Based on CoinGecko’s tracking data, the asset was trading at $0.03181 during the reporting timeframe.
The seven-day performance showed even stronger momentum, with MON recording a 32.40% gain. Throughout the 24-hour trading session, the token fluctuated within a range of $0.02716 to $0.03444.
The current valuation represents approximately 35.3% below MON’s record peak of $0.04883. Should the price fall beneath the $0.02716 threshold, it would eliminate the intraday gains completely.
Market activity accelerated significantly faster than the price movement itself. According to CoinGecko’s metrics, spot trading volume reached $145.2 million across the 24-hour period, marking a substantial 226.60% surge from the previous day’s figures.
The derivatives segment witnessed heightened activity as well. Open interest for perpetual contracts touched $188.2 million, representing nearly half of MON’s $376.1 million market valuation.
Trading volume in derivatives exceeded spot volume by a factor of 15.6. The eight-hour funding rates maintained a positive status at 0.0108%.
StraitsX Announces Strategic Monad Integration
On October 1, StraitsX revealed its intention to launch XSGD and XUSD stablecoins directly on the Monad network during the first quarter of 2027. This development would establish XSGD as the inaugural Singapore dollar-pegged stablecoin issued natively on Monad’s infrastructure.
The implementation timeline remains contingent upon completing necessary technical infrastructure, obtaining regulatory approvals, and satisfying compliance requirements. StraitsX has not specified a precise deployment date.
StraitsX operates through entities holding licenses under Singapore’s Payment Services Act 2019. According to the company’s statement, the Monetary Authority of Singapore considers both stablecoins aligned with the forthcoming regulatory framework for digital currencies.
Tianwei Liu, StraitsX’s Chief Executive Officer, indicated that launching XSGD on Monad could enable innovative card-based solutions and payment applications. Keone Hon, General Manager at Monad Foundation, emphasized that the network’s architecture is optimized for rapid, cost-effective payment processing.
Current data indicates that the Monad ecosystem holds approximately $692 million worth of stablecoins.
Enhanced Privacy Features Under Development
On September 28, Monad unveiled its post-quantum security roadmap. The development plan prioritizes wallet security as the initial focus, subsequently addressing consensus mechanisms, staking protocols, the Ethereum Virtual Machine integration, proof systems, and ultimately an encrypted mempool.
Development efforts have commenced on a quantum-resistant iteration of Cadence, Monad’s consensus protocol. The concluding phase encompasses implementing an encrypted mempool utilizing batch threshold encryption technology, specifically engineered to reduce maximal extractable value exploitation.
Monad has identified a 2028 to 2029 timeframe for deploying several of these security enhancements.
Via its official X platform presence, Monad released an analyst-targeted message stating “Privacy is coming” in anticipation of its Open Summit conference scheduled for October 6. The announcement refrained from providing additional technical specifications regarding upcoming reveals.
Monad’s current developer infrastructure already accommodates private transaction capabilities through zero-knowledge proof technology, providing a foundation for expanded privacy features.
Technical indicators from TradingView revealed MON approaching a local resistance level near $0.032758 following a rebound from previous resistance at $0.027, which has now transformed into a support zone. The token’s Relative Strength Index measured 69.23 at the time of analysis.
During the 24-hour period monitored by CoinGecko, MON achieved an intraday peak of $0.03444.
