Monad ranks #48 of 504 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #154: 106 of the 153 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 147 non-native assets CoinSpectrum lists above it by market cap, about 53% are claims on other assets, 40% are tokens and 7% are memecoins.
| CoinSpectrum Grade | C · 60/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #48 |
| Rank counting claims | #154 |
| Market capitalisation | $250M |
| Price | $0.0212 |
| 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 28 October 2026 build. Open the live view for every exchange's price, and charts.
C — 60 out of 100, provisional (from 18 of 20 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 54 to 65 (C to B).
| Criterion | Score | Basis |
|---|---|---|
| Leading Consensus Mechanisms (Source) | 9.1 | group average |
| Consensus: leader ladder | 9.1 | Proof of stake: 9.1 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| Consensus: family ladder | 9.1 | Proof of stake: 9.1 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Cryptocurrency Standards (Source) | 5 | group average, 10 of 12 measured |
| Sound Money Properties (6 checks) (Source) | 7.2 | 4.3 of 6 points source |
| Scarcity (Limited supply · 1 Store of value · Whitepaper §6) | 3.2 | no fixed maximum; 11.8 billion in circulation: supply scale 6.3, cap 0 |
| Durability (Sustainability · 1 Store of value) | ✗ | 0 full years since its first recorded price, no halt, freeze or reversal in five years |
| Fungibility (Interchangeability · 3 Unit of account) | ✓ | every unit identical and worth any other |
| Portability (Scalability · 2 Medium of exchange) | ✓ | typical fee $0.00005; about 23,600 transactions a second, 10 on the throughput scale (5 is the busiest networks' median demand) |
| Divisibility (Flexibility · 3 Unit of account) | ✓ | 18 decimal places, the smallest unit worth $2.1e-20 |
| Verifiability (Authenticity check · 1 Store of value · Whitepaper §8) | ✓ | node software open source; pruned nodes validate everything |
| Scalability (fees, throughput, block time, block space, features) | 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; 119, 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 (32 MB or more 10) | 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 §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. |
| Security (miner pay and 7 checks) | 5 | 5 of 9 points source |
| Miner pay (A day, $1,000 0 to $10 million 10; 2 points) | 0 | not mined |
| Own hashrate (Half its algorithm's largest, not merge-mined) | ✗ | not mined |
| Largest pool (Pool or validator under 50%) | ✓ | 13.3% |
| Largest three (Under 75% together) | ✓ | 17.6% |
| Clients (More than one maintained) | ✗ | 1 |
| Open source (Node software) | ✓ | Category Labs (formerly Monad Labs) develops the only client, monad-bft and monad execution, both GPL-3.0. |
| Real use (1,000+ transactions a day) | ✓ | about 5,270,778 a day |
| No 51% attack (Nor a deep reorganisation, five years) | ✓ | |
| Decentralisation | 4.8 | section average, 6 of 8 measured |
| Censorship resistant (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) | 8.6 | Proof of stake: 8.6 of 10 on the ladder of who produces blocks |
| Nodes (Source) | — | Not yet counted |
| Holder concentration (Source) | — | 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 | 0.1 | Sold by its issuer or insiders: 99.3% of supply was theirs to sell, 27% sold so far. 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 |
| Privacy | 2 | section average |
| Privacy (5 checks) | 2 | 1 of 5 passed source |
| Protocol level privacy (Keys not tied to an identity · Whitepaper §10) | ✓ | Any secp256k1 key can hold and send MON; the chain's account and transfer rules carry no identity check. |
| UTXO ledger (A new key for each payment · Whitepaper §2, §9) | ✗ | |
| Network privacy (Origin hidden by default) | ✗ | Transactions are forwarded to upcoming leaders directly; no origin hiding. |
| Hidden amounts (Amounts confidential) | ✗ | No confidential transactions. |
| Hidden parties (Sender and receiver hidden) | ✗ | No sender or receiver hiding. |
| Programmability (tokens, contracts, 5 checks) | 7.8 | 7 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 exchange (Built into the protocol) | ✗ | No exchange in the protocol. |
| 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. |
| Supply & Demand | 7 | group average |
| Supply & Demand (Source) | 7.7 | average of 6 measures |
| Exchanges (10 or more: 10) | 10 | 35 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 6.2 | $4,909,509 traded in 24 hours; #127 by volume on the exchanges the site reads (scored on the median day of the last 30, $12,122,225) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 9.5 | 4.0% of its market cap a day, median of the last 30 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 9.8 | $2,133,480 within 2% of the price on 8 exchanges, 0.85% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 6 | $250M, 6 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 4.5 | futures, options and margin positions 31% of its market cap |
| Supply (smaller is better) | 6.3 | no fixed maximum; 11.8 billion in circulation |
| Record | 6 | group average |
| Record (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 | ✓ | |
| 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, improvements, unfixed issues) | 8 | 3 positive, 0 negative, 1 not yet researched source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 1,825 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 | – | |
Twenty criteria, weighted equally. The Cryptocurrency Standards have five sections: sound money (six qualities: scarcity, durability, fungibility, portability, divisibility, verifiability), scalability (four measures and three features), security (miner pay and seven checks), decentralisation (censorship resistance, no central team, who can mint, nodes, holders, premine, fundraising and developer share) and privacy (five checks); programmability (token issuance, smart contracts and five checks) follows them. Provisional: criteria 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.
11,825,165,000 MON are in circulation, against no fixed cap — issuance has no defined end.
| 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.
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.
Monad is #48 among cryptocurrencies and #154 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 106 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 →