- Upbit lists MON across KRW, BTC, and USDT after strong demand for new Layer 1 tech.
- The MON token sale ends oversubscribed, with over 216M USD raised from buyers.
- Monad targets high speed with 10k TPS and sub-second finality on its new network.
South Korea’s largest cryptocurrency exchange, Upbit, announced it will add trading support for Monad’s MON token as interest in next-generation Layer-1 networks continues to accelerate. Upbit said MON will be available on the KRW, BTC, and USDT markets, with deposits opening within three hours of the notice and trading scheduled to begin at 00:00 KST on November 25.
The exchange confirmed that MON deposits and withdrawals will operate exclusively through the Monad Network, and users were urged to verify addresses carefully. Upbit added that deposits made before the official reference price appears on CoinMarketCap will be subject to full Travel Rule checks, regardless of amount.
Upbit Adds MON as Korea Sees Rising Demand for Layer-1 Tech (Source: X)
The exchange noted temporary restrictions at launch, including a five-minute buy-order limit and a minimum selling price limit that will be disclosed before trading begins. All order types except limit orders will remain restricted for the first two hours.
Monad (MON): A High-Performance Layer-1 With 10,000 TPS Ambitions
Monad is presented as a high-speed, EVM-compatible Layer-1 blockchain designed to deliver 10,000 transactions per second and sub-second finality. The network’s architecture relies on Monad BFT, a leader-based consensus algorithm that cycles through rounds where validators vote on proposed blocks.
According to project materials, each round issues a proof of validity, and pipelined block proposals allow continuous throughput. Additional system components, including parallel execution and a custom Monad DB, aim to maintain high performance while supporting Ethereum-compatible smart contracts at the bytecode level.
The MON token is used for transaction fees and staking, with validators able to run on consumer-grade hardware due to reduced resource requirements. As of publication, MON traded at $0.01092, with a $6.48 million market cap and $635k in 24-hour volume, according to public market data.
Coinbase Token Sale Ends Oversubscribed After Late Surge
MON’s exchange debut follows the project’s heavily watched token sale on Coinbase, which closed with $216 million raised, exceeding the original $187 million USDC target by more than 115%. Data from an independent dashboard showed that over $43 million in commitments arrived in the final 24 hours alone.
The sale initially appeared to struggle. Six hours after launching on November 17, it had reached only 45% of its goal, prompting comparisons with MegaETH’s token sale, which attracted $1.39 billion in commitments for just $50 million worth of tokens. However, the late-cycle surge confirmed Monad co-founder Keone Hon’s prediction that Coinbase’s mechanism would push buyers to wait until the closing period.
In total, 7.5% of the MON supply was offered through Coinbase in the company’s first large-scale public token sale. Allocation data shows 38.5% of the supply reserved for ecosystem development, 27% for the team, 19.7% for investors, and 4% for the Category Labs Treasury.
Project disclosures also show a larger participation figure posted later: more than 85,820 buyers contributed to a separate fundraising calculation totaling $269 million, reinforcing claims that interest broadened significantly in the final phase.
MON Token Sale on Coinbase (Source: X)
Upbit: Growing Appetite for New Base-Layer Networks
Upbit’s listing comes as regional traders show renewed appetite for new Layer-1 architectures following a year of congestion events and rising demand for throughput-optimized networks. Monad has positioned itself as an Ethereum-compatible base layer that can scale without sacrificing decentralization, a claim supported by its validator requirements and parallelized execution model.
Upbit said trading support may be delayed if liquidity remains insufficient shortly after deposit services open. Still, industry analysts expect Korean retail users to monitor the listing closely, given the strong participation in the token sale and the growing attention around high-performance chains.
Monad’s mainnet launch is scheduled for Monday, according to statements from the team. Upbit noted that deposit accuracy and network verification remain essential, and any deposits sent from unsupported exchanges will require manual refund processing.
