MON is gaining attention after the price increased 3% today to the $0.03 level. It briefly dropped yesterday after profit-taking, but now it seems there is renewed buying. Just check CoinMarketCap, trading volume is still quite decent despite a 30% drop from its peak. Looking at the chart, MON appears to be testing support at $0.020, and if it breaks through, the next target is $0.030, which is an important resistance.

What's interesting is that the Monad team just announced the launch of a personal loan $100 million on Yield App, which can now be fully verified on-chain. This is a good development because it connects traditional finance with DeFi. Additionally, their foundation has hired three new senior executives to focus on institutional investors. It looks like they are serious about long-term growth. TVL is above $250 million now, with a market cap close to $344 million. Compared to other altcoins like XRP, which are already established, MON is still in the early phase but its momentum appears positive.

Technically, if the sentiment remains bullish, the next target could be an all-time high at $0.05. But if there is pressure from macro factors or negative sentiment toward new L1s, it could fall back to support at $0.016. So for now, it’s quite interesting to monitor on CoinMarketCap, especially with this new on-chain credit development.