Everyone, I took another look at Monad today, and the more I read, the more it feels like it’s still standing even after the chair was pulled out from under it.
Over seven days, it fell 18.686%. Over the same period, $BTC dropped 4.45%,
$ETH fell 3.723%, and $SOL dropped 8.698%. A token in a new sector
has fallen two to five times as much as established leaders.
It fell another 8.079% in 24 hours, with its market cap shrinking to $207.9 million and trading volume down to just $12.5966 million.
What concerns me most isn’t the drop—it’s the token supply structure.
There are 11.825 billion tokens in circulation out of a total supply of 100.683 billion. Only 11.74% of the supply is on the market; more than 80% is still waiting in the wings.
It’s like a convenience store at the entrance to a residential complex: less than 20% of the goods are on the shelves, while everything else is piled up in the warehouse. Whenever the warehouse opens, prices have to get back in line.
Its fully diluted valuation is now $1.77 billion, while its circulating market cap is $207.9 million.
That gap of more than eight times represents the pressure that will gradually be priced into the market in the future.
Turnover is only 6.06%. Trading volume of $12.6 million can’t support a market cap of $200 million; liquidity is as thin as paper.
Its all-time high was 0.04882901, and it’s now at 0.01758556—still 63.985% below the peak.
At this level, it’s not exactly cheap; it’s just fallen fast.
When I first saw that 11.74% circulating-supply ratio, I thought I’d missed a digit. I checked twice before I believed it.
The sector itself isn’t broken; the problem is demand.
For a new blockchain, what matters is having people actually run applications on it, not just having the token rotate around exchanges.
So, should you pay less attention to it?
My approach is to keep watching for now and see if trading volume picks up again.
What do you all think of this circulating-supply ratio? Let’s discuss in the comments.
#BTW #NEAR #cryptocurrency
The above is a record of my personal trading system and observations of market data. It does not constitute investment advice.
Over seven days, it fell 18.686%. Over the same period, $BTC dropped 4.45%,
$ETH fell 3.723%, and $SOL dropped 8.698%. A token in a new sector
has fallen two to five times as much as established leaders.
It fell another 8.079% in 24 hours, with its market cap shrinking to $207.9 million and trading volume down to just $12.5966 million.
What concerns me most isn’t the drop—it’s the token supply structure.
There are 11.825 billion tokens in circulation out of a total supply of 100.683 billion. Only 11.74% of the supply is on the market; more than 80% is still waiting in the wings.
It’s like a convenience store at the entrance to a residential complex: less than 20% of the goods are on the shelves, while everything else is piled up in the warehouse. Whenever the warehouse opens, prices have to get back in line.
Its fully diluted valuation is now $1.77 billion, while its circulating market cap is $207.9 million.
That gap of more than eight times represents the pressure that will gradually be priced into the market in the future.
Turnover is only 6.06%. Trading volume of $12.6 million can’t support a market cap of $200 million; liquidity is as thin as paper.
Its all-time high was 0.04882901, and it’s now at 0.01758556—still 63.985% below the peak.
At this level, it’s not exactly cheap; it’s just fallen fast.
When I first saw that 11.74% circulating-supply ratio, I thought I’d missed a digit. I checked twice before I believed it.
The sector itself isn’t broken; the problem is demand.
For a new blockchain, what matters is having people actually run applications on it, not just having the token rotate around exchanges.
So, should you pay less attention to it?
My approach is to keep watching for now and see if trading volume picks up again.
What do you all think of this circulating-supply ratio? Let’s discuss in the comments.
#BTW #NEAR #cryptocurrency
The above is a record of my personal trading system and observations of market data. It does not constitute investment advice.
