Monad ranks #46 of 508 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #151: 105 of the 150 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 145 non-native assets CoinSpectrum lists above it by market cap, about 53% are claims on other assets, 41% are tokens and 6% are memecoins.
| CoinSpectrum Grade | C · 57/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #46 |
| Rank counting claims | #151 |
| Market capitalisation | $257M |
| Price | $0.0218 |
| 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 — 57 out of 100, provisional (from 15 of 17 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 50 to 62 (D to C).
| 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 | 6.3 | group average, 4 of 6 measured |
| Properties (10 whitepaper checks) (Source) | 4 | 4 of 10 passed source |
| Anyone can mint (permissionless) | ✗ | MonadBFT (PoS) |
| Limited supply | ✗ | no fixed maximum |
| No pre-issuance or developer mint | ✗ | |
| No developer tax | ✓ | |
| No authority that can halt the chain or freeze funds | ✓ | No protocol-level freeze, blacklist or admin key over user balances is documented. |
| No central team | ✗ | Category Labs (formerly Monad Labs) develops the only client, monad-bft and monad execution, both GPL-3.0. |
| Fees under one cent | ✓ | typical fee $0.00005 |
| Payments safe to accept within seconds | ✓ | MonadBFT finalises blocks deterministically in under a second (0.4 s blocks, finality after two rounds). |
| UTXO ledger | ✗ | |
| Privacy built into the protocol | ✗ | |
| Scalability (fees, throughput, block time, block space) | 7.5 | average of 4 measures source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.00005 |
| Throughput (1,000 transactions a second or more 10) | 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 |
| Security (9 checks) | 5 | 5 of 9 passed source |
| Miners paid over $1 million a day | ✗ | not mined |
| Miners paid over $100,000 a day | ✗ | |
| Its own hashrate: at least half its algorithm's largest, not merge-mined | ✗ | not mined |
| Largest pool or validator under 50% | ✓ | 13.3% |
| Largest three under 75% | ✓ | 17.6% |
| More than one maintained client | ✗ | 1 |
| Node software is open source | ✓ | Category Labs (formerly Monad Labs) develops the only client, monad-bft and monad execution, both GPL-3.0. |
| Real on-chain use: 1,000+ transactions a day | ✓ | about 5,270,778 a day |
| No 51% attack or deep reorganisation in five years | ✓ | |
| Decentralisation: who can mint (Source) | 8.6 | Proof of stake: 8.6 of 10 on the ladder of who produces blocks |
| Decentralisation: nodes (Source) | — | Not yet counted |
| Decentralisation: holder concentration (Source) | — | Not yet measured |
| Capabilities (protocol features) | 1.7 | 1 of 6 passed source |
| Decentralisation | ||
| Network-level privacy: the node hides where a transaction came from (Dandelion++, Tor or I2P, on by default) | ✗ | Transactions are forwarded to upcoming leaders directly; no origin hiding. |
| Light clients verify payments from headers or proofs, without a trusted server | ✗ | No light-client protocol; wallets trust RPC servers. |
| Scalability | ||
| Pruned nodes: a full node can validate and drop old history | ✓ | MonadDB keeps recent state and transaction data and overwrites the oldest data at 80% capacity; full history lives on archive servers. |
| Native payment channels or instant payments | ✗ | No payment channels. |
| Security | ||
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | No confidential transactions. |
| Hidden sender and receiver (ring signatures or zero-knowledge proofs, one-time or stealth addresses) | ✗ | No sender or receiver hiding. |
| Issuance | 3.4 | group average |
| 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 |
| Supply & Demand | 5.3 | group average |
| Supply & Demand (Source) | 6.5 | average of 6 measures |
| Exchanges (10 or more: 10) | 10 | 35 exchanges |
| Volume rank among the top 200 | 3.65 | $5,318,725 traded in 24 hours; #128 by volume on the exchanges the site reads (ranked 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) | 9.7 | $2,138,678 within 2% of the price on 8 exchanges, 0.83% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 6 | $257M, 6 on a scale of 2.5 points per tenfold |
| Futures exposure (open interest ÷ market cap, less is better) | 0 | perpetual open interest 30% of its market cap |
| Supply (smaller is better) | 4.1 | no fixed maximum; 11.8 billion in circulation |
| Record | 6.7 | 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) | 10 | 4 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). |
| Token issuance at protocol level, validated by its own nodes, +2 | ✓ | ERC-20 contracts on its EVM, open to any account since mainnet in November 2025. |
| Not yet researched | ||
| Shipped a new capability for users in two years | – | |
Seventeen criteria, weighted equally. The Cryptocurrency Standards group four parts: properties (ten checks drawn from the Bitcoin whitepaper), scalability (four measures), security (nine checks) and decentralisation (three scales). 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 #46 among cryptocurrencies and #151 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 105 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 →