Monad Airdrop countdown 98%! Hyperliquid pre-market volume explosion

The high-performance Layer 1 Blockchain Monad released a mysterious progress bar through the X platform late at night on October 8, indicating that “Airdrop Claims Loading” has reached 98%, strongly suggesting that token distribution is about to begin. Meanwhile, the decentralized Perptual Futures exchange Hyperliquid has already launched MON-USD pre-market trading, with a 24-hour volume exceeding 28 million USD, and market enthusiasm continues to heat up.

What is Monad? Why is it highly anticipated?

Monad is a Layer 1 blockchain project focused on high throughput and full compatibility with the EVM (Ethereum Virtual Machine), founded by former Jump Trading researchers, and has secured $244 million in funding from top institutions like Paradigm. Its core advantage lies in providing higher transaction processing capacity at lower costs while allowing Ethereum ecosystem developers to seamlessly migrate applications to the Monad chain.

Monad Technical Features

Core Competitiveness:

High-performance architecture: Significantly increases transaction throughput, challenging competitors like Solana.

EVM Fully Compatible: Ethereum developers can migrate dApps with zero threshold

Low cost advantage: Providing efficient infrastructure for DeFi, NFT, and blockchain games

Active Testnet: Has attracted millions of users to participate in task activities.

After Monad launched its public test network in February, it quickly accumulated a large community base. The crypto community is highly anticipating its airdrop plan, expecting it to become one of the most notable token distribution events of 2024.

Hyperliquid Launches Monad Futures Trading Early

(Source: Trading View)

The decentralized perpetual futures trading platform Hyperliquid announced this week the launch of the MON-USD super contract (HyperEVM), allowing traders to go long or short on the Monad token before its official listing stage, with a maximum leverage of 3 times.

Market Data Performance:

24-hour trading volume: 28 million USD

Current Price: Approximately 0.13-0.15 USD

Open Contracts: Over 5 million USD

Fully Diluted Valuation (FDV): 13-15 billion USD

According to the official Hyperliquid website, these pre-market derivative products operate independently of spot prices or index forecasts, clearly distinguishing them from traditional financial instruments. Traders can position themselves in advance to seize price fluctuation opportunities before the official launch of Monad.

Airdrop is coming? 100 billion Tokens to be distributed

The latest update from Monad on platform X shows that the “Airdrop Claim Loading” feature has reached 98%. Judging from the heated comments below the post, the community's anticipation for the airdrop continues to rise. According to market estimates, Monad plans to distribute 100 billion MON tokens through the airdrop, which is quite substantial.

At the current trading price of Hyperliquid at $0.13, the fully diluted valuation of Monad is approximately $13 billion, indicating the market's high recognition of its high-performance EVM solution. However, investors should be aware that pre-market price fluctuations are severe, and the price may change significantly after going live.

Risk Warning: Hyperliquid delisted the JELLYJELLY Perptual Futures contract in March this year due to price manipulation issues, indicating the presence of manipulation risks in the pre-market trading environment. Traders are advised to carefully assess their position sizes and avoid excessive leverage.