Although the listing came on the heels of Monad’s mainnet launch, MON’s appearance on Upbit — South Korea’s largest cryptocurrency exchange — materially amplified market attention, sending the token into a pronounced rally as liquidity and access expanded across KRW, BTC and USDT pairs. Deposits opened three hours after Upbit’s announcement and trading commenced at 00:00 KST on November 25, 2025, following standard deposit accuracy checks and network verification procedures; unsupported exchange deposits required manual refund processing, a contingency that underscored operational risk management. The coordinated cadence between mainnet activation and exchange onboarding produced a concentrated influx of order flow, particularly from Korean participants, whose participation proved decisive during the first trading sessions. Such volume surges often signal liquidity but can also portend significant price swings.
Market reaction was immediate and intense: MON surged 76% within 24 hours of the combined mainnet launch and Upbit listing, moving through an intraday range of $0.025 to $0.045 and representing a more than 106% advance from initial lows near $0.020. Trading volume spiked to roughly $1.2 billion, placing MON among the market’s top gainers and reflecting both speculative interest and the improved liquidity profile brought by listings across Coinbase, Bithumb, Kraken, KuCoin and Bybit. Major exchange listings expanded market depth and visibility, enabling larger participants to execute with reduced slippage and attracting arbitrage across fiat and crypto pairs. MON deposits on Upbit were limited to the Monad Network and subject to temporary trading and order-type restrictions at launch.
MON rocketed 76% in 24 hours, surging on heavy $1.2B volume amid major exchange listings and heightened liquidity.
The token’s fundraising narrative further bolstered confidence: a token sale on Coinbase raised $216 million, surpassing a $187 million target, while separate fundraising efforts accumulated about $269 million from over 85,820 buyers, with late-cycle commitments exceeding $43 million. Although initial participation lagged—reaching only 45% of the goal six hours into the sale—the eventual oversubscription signaled robust demand fueled by increasing institutional interest and regulatory clarity.
Technically, Monad’s mainnet aims for 10,000 TPS and sub-second finality, and the rollout included yield products, liquid staking options and ecosystem grants intended to drive utility and adoption. Analysts project a 2026 price band of $0.12–$0.20, with a potential $0.30–$0.35 target in an extended bull market, yet caution remains warranted given post-launch volatility and execution risk. Upbit’s listing amplified Korean market engagement, reinforcing MON’s credibility in Asia while leaving uncertainties about sustainability and longer-term price discovery. Recent exchange actions also signaled a broader compliance alignment trend among major platforms.
