Hyperliquid Adds MON-USD Perpetual Contracts Before Major Monad Airdrop

Hyperliquid, a leading decentralized perpetuals exchange, revealed on Wednesday the listing of MON-USD perpetual contracts, enabling traders to take long or short positions on the token during its pre-market phase. MON serves as the native cryptocurrency of Monad, an innovative Layer 1 blockchain engineered for full compatibility with the Ethereum Virtual Machine (EVM), simplifying the migration of applications from Ethereum for developers. Both Hyperliquid's announcement and Monad's recent communications indicate an upcoming airdrop, with the project's official X account showing the "airdrop claim loading" feature at 98% completion as of October 8. Trading in MON-USD perpetuals, with prices around $0.13, suggests Monad's fully diluted valuation (FDV) is approximately $13 billion, based on the planned distribution of 100 billion MON tokens via airdrop. The new MON market has demonstrated significant activity, achieving $28 million in trading volume within the past 24 hours on the decentralized exchange. Read more: Ethereum L1 Monad Partners With Orderly Network to Enhance DeFi Capabilities.