Monad (MON)
Monad ranks #52 of 484 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #165: 113 of the 164 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 159 non-native assets CoinSpectrum lists above it by market cap, about 55% are claims on other assets, 38% are tokens, 7% are memecoins and 1% are NFT collections.
| CoinSpectrum Grade | A · 67/100 · provisional, B to A |
|---|---|
| Rank among cryptocurrencies | #52 |
| Rank counting claims | #165 |
| Market capitalisation | $195M |
| Price | $0.0165 |
| Circulating supply | 11,825,165,000 MON |
| Maximum supply | no fixed cap |
| Consensus family | Proof of Stake |
| Consensus mechanism | MonadBFT (PoS) |
| Network purpose | Smart-contract platform |
| Ledger type | Multi-asset ledger |
| Launch distribution | Presale |
Market figures from the 10 November 2026 build. Open the live view for every exchange's price, and charts.
CoinSpectrum Grade (Source)
A — 67 out of 100, provisional (from 10 of 10 sections, 10 November 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 62 to 71 (B to A).
| Section and criteria | Score | Basis |
|---|---|---|
| Consensus | 9.1 | average of 2 criteria |
| By leader (its largest chain's market cap) (Source) | 9.1 | Proof of stake: 9.1 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| By family (all its chains' market cap) (Source) | 9.1 | Proof of stake: 9.1 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Supply | 6.5 | the supply scale times 0.9, and a point for a fixed cap that holds |
| Supply (21 million scores 10) | 7.2 | no fixed maximum; 11.8 billion in circulation |
| Distribution | 5.8 | average of 3 parts |
| Holder concentration (Source) | – | Not yet measured |
| Active addresses | – | Not yet measured |
| Premine (allocated at launch) | 0.1 | 99.3% of today's supply allocated at launch to founders, a company, a foundation or investors. 100B MON allocated at mainnet launch on 24 November 2025 (38.5% ecosystem, 27% team, 19.7% investors, 7.5% public sale, 3.95% Category Labs treasury, 3.3% airdrop), against a current total supply of about 100.68B MON (CoinGecko, 2026-10-23). source |
| Fundraising (share sold) (Source) | 7.3 | Sold by its issuer or insiders: 27% of supply sold. Investor rounds (pre-seed, seed, Dragonfly, Paradigm) hold 19.7% (19.7B MON), and the November 2025 Coinbase public sale sold its full 7.5B MON at $0.025 ($187.5M allocated, $269M committed). 27.2B / ~100.68B total supply (CoinGecko, 2026-10-23) = 27.0%. $9M pre-seed (2022), $10M seed, $19M round led by Dragonfly, and a $225M round led by Paradigm (April 2024). The public sale on Coinbase's token-sale platform at $0.025/MON raised about $269M from about 85,820 participants. source |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. No cut. The protocol mints a fixed 25 MON per block (~2B MON/yr) to the block leader and its delegators (less the validator's commission); no share goes to the Monad Foundation, Category Labs or a treasury. source |
| Decentralisation | 5 | average of 3 parts |
| Governance (Source) | 10 | No authority can halt the chain or freeze funds: No protocol-level freeze, blacklist or admin key over user balances is documented. source |
| No central team (Source) | 0 | A central team directs it: Category Labs (formerly Monad Labs) develops the only client, monad-bft and monad execution, both GPL-3.0. source |
| Who can mint (Source) | 5 | Gated by stake rank: only a capped set of the largest stakes produces blocks |
| Nodes (Source) | – | Not yet counted |
| Security | 8.5 | 6.8 of 8 points source |
| Pool diversity (Largest pool 50% 0 to 20% 10, largest three 90% 0 to 50% 10; 2 points) | 10 | largest 13.3%, largest three 17.6% |
| Network activity (Transactions a day, 250 0, 500,000 or more 10; 2 points) | 10 | about 5,270,778 transactions a day |
| Hashrate (Own work 5, its power 1 kW 0 to 10 GW 5; 1 point) | 1 | not mined: another consensus, 1 |
| Clients (Separate code and teams 10, separate code or teams 9, a fork by the same team or a stale second 8; one client: a new version within 12 months 7, 24 months 6, none in 24 months 5, none in 48 months 3; a second in development +0.5, a second seen running +1, 8 at most with one client; chain ended 0; 1 point) | 7 | one client, latest version Oct 2026 |
| Open source (Node software) | ✓ | |
| No 51% attack (Nor a deep reorganisation, five years) | ✓ | |
| Scalability | 7.3 | average of 5 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.00005 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 121, the median of the ten busiest, 5) | 10 | about 23,600 simple transactions a second |
| Block time (10 minutes 10, less either side) | 0 | a block every 0.302 seconds |
| Block space per 10 minutes (24 MB or more 10: the ten busiest networks' median demand, 16.4 MB, and half again for growth) | 10 | 1.5 MB limit, 2980 MB per 10 minutes |
| Features (3 checks) | 6.7 | 2 of 3 passed |
| Fast payments (Safe to accept within seconds · Whitepaper abstract, §1, §2 and §11) | ✓ | MonadBFT finalises blocks deterministically in under a second (0.4 s blocks, finality after two rounds). |
| Pruned nodes (Old history dropped, every rule checked · Whitepaper §7) | ✓ | MonadDB keeps recent state and transaction data and overwrites the oldest data at 80% capacity; full history lives on archive servers. |
| Light clients (Payments verified from headers · Whitepaper §8) | ✗ | No light-client protocol; wallets trust RPC servers. |
| Privacy | 3.5 | 3.5 of 10: whitepaper privacy 3.5 of 7, extra features 0 of 3, 1 not yet researched source |
| Protocol level privacy (Keys not tied to an identity · Whitepaper §10) | 10 | Any secp256k1 key can hold and send MON; the chain's account and transfer rules carry no identity check. |
| UTXO ledger (Separate outputs, change to a new address · Whitepaper §2, §9) | 0 | An account ledger: one running balance for each address, so the remainder stays at the sending address and its payments share one public history. |
| HD addresses (A new address for each payment, unlinked · Whitepaper §10) | – | |
| Hidden amounts (Amounts confidential) | 0 | No confidential transactions. |
| Hidden parties (Sender and receiver hidden) | 0 | No sender or receiver hiding. |
| Network privacy (Origin hidden by default) | 0 | Transactions are forwarded to upcoming leaders directly; no origin hiding. |
| Programmability | 8.9 | 8 of 9 points source |
| Token issuance (At protocol level) | 2 | ERC-20 contracts on its EVM, open to any account since mainnet in November 2025. |
| Smart contracts (General-purpose) | 2 | Full EVM bytecode compatibility, public mainnet since 24 November 2025, open to any account. |
| Multisig and time locks (Without a third party) | ✓ | Multisig and timelock contracts on the EVM. |
| Atomic swaps (With other chains) | ✓ | EVM HTLC contracts (hash lock plus timelock refund). |
| Native DEX (Trades the coin itself, not a claim) | ✓ | Traded as itself, not as a wrapped token or a claim: its own chain's DEXes (Monad, DefiLlama). |
| Cross-chain messaging (Verified by the chain itself) | ✗ | No protocol messaging to other chains; bridges are third-party. |
| NFTs (Carried by the chain's rules) | ✓ | ERC-721 contracts on the EVM. |
| Demand | 6.5 | average of 7 measures |
| Exchanges (10 or more: 10) | 10 | 35 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 5.8 | $5,453,271 traded in 24 hours; #158 by volume on the exchanges the site reads (scored on the median day of the last 30, $8,047,181) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 9 | 3.2% of its market cap a day, median of the last 30 days |
| Order-book depth (±2% of the price ÷ market cap, 1%: 10) | 9.7 | $1,610,385 within 2% of the price on 8 exchanges, 0.83% of its market cap, median of the last 15 days |
| Market cap ($1M 0, $10B or more 10) | 5.7 | $195M, 5.7 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 4.4 | futures, options and margin positions 31% of its market cap |
| Wallet support (wallets that hold it, 10 or more: 10) | 1 | its own node and wallet, counted as 1: no wallet in the site's directory lists it yet |
| Record | 6 | average of 3 criteria |
| Age (years since genesis) (Source) | 0 | 0 full years since 2025-11-24, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, fixes, vulnerabilities) | 8 | 3 positive, 0 negative, 1 not yet researched source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 1,853 commits in 12 of the last 12 months (github.com/category-labs/monad-bft); monad-bft v0.16.5, 13 Oct 2026; 22 stable releases since mainnet (24 Nov 2025). |
| Shipped a security fix in two years, +1 | ✓ | Monad client releases after the Nov 2025 mainnet launch: authenticated UDP, a buffer-overflow fix and RaptorCast validation fixes per the docs changelog. |
| Shipped a scaling upgrade in two years, +1 | ✓ | MONAD_TEN (v0.16.1), 2 Sep 2026: storage gas pricing cut about 98% (MIP-8). |
| Not yet researched | ||
| Shipped a new capability for users in two years | – | |
| Conduct (origin, claims, halts) | 10 | 3 positive, 0 negative source |
| Positive record | ||
| Launched with a stated purpose, not as a joke | ✓ | |
| No claims by its founders that contradict its own design | ✓ | |
| No halt, freeze or reversal in five years | ✓ | |
Ten sections, weighted equally, each 0 to 10: consensus (the two ladders), supply (the supply scale and a fixed cap that holds), distribution (premine, fundraising, developer share, holders), decentralisation (governance, no central team, who can mint, nodes), security, scalability, privacy, programmability (what the scripting layer can do beyond the whitepaper's payment system), demand, and record (age, development, conduct). They are built from the criteria in the second table: privacy, scalability, security and decentralisation are the Cryptocurrency Standards among them, as follows: privacy (the whitepaper's three checks a base of 7 of 10, three extra features up to 3 more), scalability (four measures and three features), security (pool diversity, network activity, hashrate, clients and two checks) and decentralisation (governance, no central team, who can mint, nodes, holders, premine, fundraising and developer share); programmability (token issuance, smart contracts and five checks) follows them, and supply and demand are two: the supply, scored against 21 million, and demand, the average of seven measures of the market and the wallets. Provisional: parts marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
Proof of Stake coins
Ethereum ETHA+
BNB BNBA
Solana SOLA+
Kaia KAIAA
THORChain RUNEB
Akash Network AKTA
IOTA IOTAAAll Proof of Stake chains →Proof of Work coins
Bitcoin BTCA+
Zcash ZECA+
Dogecoin DOGEA+
Monero XMRA+
Bitcoin Cash BCHA++
Litecoin LTCA+
Ethereum Classic ETCAAll Proof of Work chains →Supply
11,825,165,000 MON are in circulation, against no fixed cap — issuance has no defined end.
Launch and allocation
| Premine (allocated at launch) | 99.3% of today's supply |
|---|---|
| Sold by the issuer or insiders | 27% of today's supply |
| Developer share received since launch | 0% of today's supply |
| Developer share of new coins today | 0% |
| Fundraising | Private or venture funding |
100B MON allocated at mainnet launch on 24 November 2025 (38.5% ecosystem, 27% team, 19.7% investors, 7.5% public sale, 3.95% Category Labs treasury, 3.3% airdrop), against a current total supply of about 100.68B MON (CoinGecko, 2026-10-23).
$9M pre-seed (2022), $10M seed, $19M round led by Dragonfly, and a $225M round led by Paradigm (April 2024). The public sale on Coinbase's token-sale platform at $0.025/MON raised about $269M from about 85,820 participants.
Investor rounds (pre-seed, seed, Dragonfly, Paradigm) hold 19.7% (19.7B MON), and the November 2025 Coinbase public sale sold its full 7.5B MON at $0.025 ($187.5M allocated, $269M committed). 27.2B / ~100.68B total supply (CoinGecko, 2026-10-23) = 27.0%.
No cut. The protocol mints a fixed 25 MON per block (~2B MON/yr) to the block leader and its delegators (less the validator's commission); no share goes to the Monad Foundation, Category Labs or a treasury.
Sources: theblock.co · docs.monad.xyz · docs.monad.xyz · docs.monad.xyz · monad.xyz · theblock.co. Researched 2026-10-24, medium confidence.
What a regulator has said
No SEC/CFTC determination — unclassified.
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
How CoinSpectrum ranks Monad
Monad is #52 among cryptocurrencies and #165 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 113 places between Monad's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.
The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).
See the 5 wrapped and staked claims on Monad →