Monad (MON) Surges 15% Following StraitsX Stablecoin Announcement and Privacy Teaser

Key Highlights

• MON surged 15% within a 24-hour period, reaching approximately $0.0318 with weekly gains of 32.40%
• StraitsX announced intentions to deploy XSGD and XUSD stablecoins on Monad network by early 2027
• Daily trading volume surged to $145.2 million, representing a 226.60% increase
• Open interest in perpetual contracts climbed to $188.2 million, roughly half of MON’s total market valuation
• Network developers hinted at upcoming privacy features before the October 6 Open Summit

The Monad network’s native token, MON, experienced a significant 15% price increase during a 24-hour trading period. At press time, the digital asset was changing hands at $0.03181, based on information from CoinGecko.

Looking at the weekly performance, MON registered gains of 32.40%. Throughout the observed 24-hour period, the token fluctuated within a range of $0.02716 to $0.03444.

The current valuation remains approximately 35.3% under MON’s record peak of $0.04883. Should the price fall beneath the $0.02716 threshold, it would nullify the gains accumulated during the day.

Market activity expanded at a rate exceeding price appreciation. Data from CoinGecko indicated that 24-hour spot trading volume reached $145.2 million, marking a 226.60% jump compared to the previous day’s figures.

Futures market engagement also intensified. Open interest in perpetual contracts climbed to $188.2 million, approaching half of MON’s $376.1 million market capitalization.

Volume in the derivatives market measured 15.6 times that of spot trading. Eight-hour funding rates registered positive at 0.0108%.

StraitsX Confirms Monad Stablecoin Integration

On October 1, StraitsX revealed its intention to introduce XSGD and XUSD as native tokens on the Monad blockchain by early 2027. This would mark XSGD as the inaugural Singapore dollar-backed stablecoin issued directly on the platform.

The initiative remains contingent upon fulfilling technical requirements, obtaining regulatory approvals, and meeting compliance standards. StraitsX has not disclosed a precise deployment timeline.

StraitsX operates through entities authorized under Singapore’s Payment Services Act 2019. According to the company, Singapore’s Monetary Authority considers both stablecoins aligned with its forthcoming stablecoin regulatory framework.

StraitsX CEO Tianwei Liu indicated that deploying XSGD on Monad could enable innovative card-based and payment solutions. Monad Foundation General Manager Keone Hon emphasized that the platform is engineered to deliver rapid, cost-efficient payment infrastructure.

Current data suggests Monad hosts approximately $692 million in stablecoin assets, based on available reports.

Privacy Enhancement Timeline Draws Attention

On September 28, Monad unveiled its post-quantum security roadmap. The strategy prioritizes securing wallets initially, then progressing to consensus mechanisms, staking protocols, the EVM, proof systems, and ultimately an encrypted mempool.

Development has commenced on a quantum-resistant iteration of Cadence, Monad’s consensus protocol. The concluding phase envisions an encrypted mempool utilizing batch threshold encryption, aimed at reducing maximal extractable value exploitation opportunities.

Monad identified the 2028 to 2029 timeframe as the projected completion window for multiple components.

Through its official X profile, Monad published a teaser message stating “Privacy is coming” in advance of its Open Summit event scheduled for October 6. The announcement omitted specific technical specifications regarding potential reveals.

Monad’s current development infrastructure already accommodates private transactions through zero-knowledge proof mechanisms, providing a foundation for expanded privacy capabilities.

Technical assessment using TradingView data revealed MON approaching a local peak near $0.032758 following a rebound from previous resistance at $0.027, which has transitioned into a support zone. The token’s RSI indicator registered 69.23 at the time of analysis.

During the 24-hour tracking window documented by CoinGecko, MON achieved an intraday high of $0.03444.