Traders price Monad at around $15 billion FDV on Hyperliquid’s MON pre-launch market
Quick Take Hyperliquid has listed MON-USD hyperps, allowing traders to long or short the token in a pre-launch market phase. Monad has teased an airdrop for MON, and updated its “airdrop claim loading” progress bar to 80% on Oct. 6, according to its post on X. Hyperliquid’s MON-USD trades at about $0.15 at a $15 billion fully diluted valuation for Monad.
Hyperliquid, which operates a crypto perpetual futures trading platform, has listed MON-USD hyperps, allowing traders to long or short the token in a pre-market phase.
On Wednesday, Hyperliquid announced that users can now long or short MON-USD hyperps for the upcoming MON token with up to 3x leverage. Hyperps, or Hyperliquid-only perps, function like perpetual contracts but do not require an underlying spot or index oracle price, according to its website .
MON is the native token for Monad, a Layer 1 blockchain that rolled out its testnet earlier this year. Monad is designed to be fully compatible with the Ethereum Virtual Machine, making it easier for developers to transition their applications.
Monad has teased an airdrop for MON and updated its "airdrop claim loading" progress bar to 80% on October 6, up from 51% on October 2, according to its post on X.
Based on mark prices in the MON-USD hyperp of nearly $0.15, MON's fully diluted valuation stands at roughly $15 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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