Share this article
Hyperliquid Lists MON-USD Perpetuals Ahead of Hotly Anticipated Monad Airdrop
Both Hyperliquid’s announcement and Monad’s recent posts suggest that an airdrop may be imminent.
Oct 8, 2025, 5:54 p.m.
What to know:
- Hyperliquid, the decentralized perpetuals exchange, announced Wednesday that it has listed MON-USD hyperps, allowing traders to go long or short the token in a pre-market phase.
- Based on trading in the MON-USD hyperp, priced near $0.13, Monad’s fully diluted valuation (FDV) stands at approximately $13 billion, with 100 billion MON tokens expected to be distributed through the airdrop.
Hyperliquid, the decentralized perpetuals exchange, announced Wednesday that it has listed MON-USD hyperps, allowing traders to go long or short the token in a pre-market phase.
MON is the native token of Monad, a Layer 1 blockchain designed to be fully compatible with the Ethereum Virtual Machine (EVM) — a feature that makes it easier for developers to migrate their applications from Ethereum.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Both Hyperliquid’s announcement and Monad’s recent posts suggest that an airdrop may be imminent, with the project’s official teasing their “airdrop claim loading” feature reaching 98% on Oct. 8, according to Monad’s latest update on X.
Based on trading in the MON-USD hyperp, priced near $0.13, Monad’s fully diluted valuation (FDV) stands at approximately $13 billion, with 100 billion MON tokens expected to be distributed through the airdrop.
The new MON market has already seen strong activity, recording $28 million in trading volume over the past 24 hours on the decentralized exchange.
Read more: Ethereum L1 Monad Joins Forces With Orderly Network for DeFi Boost
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
