The altcoin Monad (MON) has entered a period of intense market activity,breaking out of a long-standing sideways trading range with a 12% price increase over the last 24 hours. This surge coincides with a massive spike in decentralized exchange (DEX) activity, positioning the network among the top 10 blockchain ecosystems globally.
A $1.8 billion monthly surge in DEX volume
Monad has rapidly solidified its standing in the competitive blockchain landscape by capturing significant liquidity. As the report indicates, the network's daily DEX volume has reached a staggering $191.77 million, contributing to a weekly total of $595 million. This momentum has driven the monthly volume to over $1.80 billion, placing Monad in the same conversation as major ecosystems like Solana, Ethereum, Base, BNB Chain, and Hyperliquid.
This influx of capital follows a broader trend of recovery that began in mid-July. Since that period, the network has seen a consistent upward trajectory in almost every key metric, suggesting that the recent price action is backed by genuine on-chain utility rather than mere speculation. The reduction in capital outflows further suggests that market sentiment is shifting from cautious to bullish.
TVL more than doubles to $2.677 billion
The growth in Monad's Total Value Locked (TVL) serves as a primary indicator of increasing ecosystem depth . According to the analysis, the TVL has climbed from $1.205 billion to $2.677 billion in just one month. This expansion of locked capital is mirrored by the network's stablecoin market cap, which nearly doubled from $482 million to $703 million during the same timeframe.
Network engagement metrics have also returned to their mid-July peaks, demonstrating high levels of user participation . Current data shows 23.83K active addresses and more than 6.23 million transactions. These figures highlight a robust environment for decentralized applications, providing the fundamental support necessary for sustained price appreciation.
The $0.03 resistance wall facing MON
Despite the recent breakout from the $0.01911 to $0.02424 range, Monad faces immediate technical hurdles.. the price is currently grappling with significant resistance at the $0.03 level. If the asset fails to breach this zone, it may be forced to retest its recent breakout area at $0.02434.
To sustain this rally and reach its year-to-date peak of $0.038, bulls will need to maintain strong momentum. while the market structure remains bullish as long as the price stays above $0.02434, the $0.03 mark represents a psychological and technical ceiling that could stall the current uptrend if buying pressure wanes.
Can Monad reclaim its 2026 highs?
The rapid expansion of Monad's metrics has led markket observers to speculate whether the network can eventually reclaim its 2026 price highs. However, several critical pieces of information remain unverified. It is currently unclear if the recent explosion in DEX volume is driven by organic user growth or concentrated institutional movement. Additionally, while the report highlights a decline in selling pressure via the Accumulation/Distribution indicator, it does not clarify if the current liquidity is sufficient to sustain a move toward the $0.038 demand zone without a significant correction.
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