Monad trading volumes climbed about 60% over the past week

Trading activity on @monad has accelerated sharply, with on-chain volumes rising roughly 60% over the past seven days as the high-performance Layer 1 continues to attract DeFi liquidity.

Spot and Perpetuals Lead the Surge

Spot volume across @monad decentralized exchanges reached $439 million over the seven-day period, while perpetuals trading hit $779 million. Stablecoins on the network also grew, climbing 11% to $670 million in total supply. Total value locked now sits at $859 million, reflecting continued capital inflows into the ecosystem.

The figures mark a meaningful step up from where the network stood just months ago. Monad is a Layer 1 blockchain that runs the Ethereum Virtual Machine with parallel execution, targeting 10,000 transactions per second. Its mainnet went live in November 2025. The chain is noted as the fastest Layer 1 to reach the $300 million TVL mark in recent years, hitting that threshold in roughly four months after launch.

Token Price Lags the Network's Growth

Despite the volume uptick, $MON has not fully followed through on the price side. The native token trades at $0.0214, up 2.5% on the week but down 3.9% on the day, with 24-hour volume also retreating 33%. Monad reached an all-time high of $0.04883 , meaning the token remains well off its peak even as on-chain metrics improve.

DeFi total value locked has crossed $770 million, stablecoin supply exceeds $550 million, and the network processes around 3.5 million transactions daily on average, with over 150 applications already built on it. That creates a divergence between network activity and token performance that analysts have flagged as a key dynamic to watch.

One risk hanging over $MON is a large upcoming token unlock. Over 46 billion MON tokens allocated to the team and early investors begin unlocking in November 2026, which could create significant supply-side pressure if organic demand does not keep pace. The growth in spot and perpetuals volume, if sustained, may help absorb that additional supply.

The TVL composition on Monad skews toward lending markets, perpetual exchanges, and stablecoin and real-world asset vaults, suggesting the ecosystem is building out across multiple DeFi verticals rather than concentrating in a single area.

Sources:
DefiLlama: Monad DEX Volume Rankings
CoinGecko: Monad (MON) Price and Market Data
Everstake: Monad Staking and Mainnet 2026 Institutional Guide