Key Highlights
- MON experienced a 15% surge within 24 hours, reaching approximately $0.0318, with weekly gains climbing 32.40%
- Singapore-based StraitsX announced intentions to deploy XSGD and XUSD stablecoins on Monad network by early 2027
- Trading volume surged to $145.2 million in 24 hours, representing a 226.60% increase
- Open interest in perpetuals climbed to $188.2 million, approximately 50% of MON’s total market capitalization
- Network developers previewed upcoming privacy enhancements before the October 6 Open Summit
The Monad network’s native token, MON, experienced a notable 15% increase across a 24-hour trading period. According to CoinGecko’s data, the token reached $0.03181 during the reporting timeframe.
The seven-day performance showed MON accumulating 32.40% in value. Throughout the day, the asset fluctuated within a range of $0.02716 to $0.03444.
The current valuation remains approximately 35.3% beneath MON’s peak price of $0.04883. Should the token fall under the $0.02716 threshold, it would eliminate the accumulated daily gains.
Market activity expanded more rapidly than price movement. CoinGecko’s figures indicated spot trading volume of $145.2 million over 24 hours, marking a 226.60% jump from the preceding day.
Derivative market participation also intensified. Open interest in perpetual contracts hit $188.2 million, approaching half of MON’s total $376.1 million market value.
Derivatives trading volume exceeded spot activity by 15.6 times. The eight-hour funding rate remained positive at 0.0108%.
StraitsX Announces Monad Stablecoin Integration
On October 1, StraitsX revealed plans to natively deploy its XSGD and XUSD stablecoins on the Monad network during the first quarter of 2027. This initiative would establish XSGD as the inaugural Singapore dollar-backed stablecoin issued directly on the platform.
Implementation remains contingent upon satisfying technical requirements, regulatory approvals, and compliance protocols. StraitsX has not disclosed a specific deployment timeline.
The company issues its stablecoins through licensed entities operating under Singapore’s Payment Services Act 2019. According to StraitsX, the Monetary Authority of Singapore considers both tokens aligned with the country’s forthcoming stablecoin regulatory framework.
Tianwei Liu, CEO of StraitsX, indicated that deploying XSGD on Monad could enable innovative card-based and payment solutions. Keone Hon, General Manager at Monad Foundation, emphasized the network’s architecture supports rapid, cost-effective payment systems.
Current data indicates Monad hosts approximately $692 million in stablecoin assets.
Privacy Enhancement Development Gains Attention
On September 28, Monad unveiled its post-quantum security roadmap. The strategy prioritizes wallet security as the initial focus, subsequently addressing consensus mechanisms, staking infrastructure, the Ethereum Virtual Machine, proof systems, and an encrypted transaction pool.
Development has commenced on a post-quantum resistant iteration of Cadence, Monad’s consensus protocol. The concluding phase introduces an encrypted mempool utilizing batch threshold encryption technology, aimed at reducing maximal extractable value exploitation opportunities.
The team identified 2028 to 2029 as the anticipated deployment timeframe for multiple roadmap components.
Through its official X platform account, Monad released a cryptic message stating “Privacy is coming” in advance of the October 6 Open Summit. The announcement omitted specific technical specifications regarding planned reveals.
Monad’s current developer infrastructure already accommodates private transactions through zero-knowledge proof mechanisms, providing a foundation for expanded privacy capabilities.
Technical chart analysis from TradingView indicated MON approaching a local resistance point near $0.032758 following a rebound from previous resistance at $0.027, which now functions as support. The token’s Relative Strength Index registered 69.23 at the time of analysis.
During the 24-hour period monitored by CoinGecko, MON peaked at $0.03444.
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