- The Monad Foundation hired three senior executives from Optimism, FalconX, and BVNK to drive institutional adoption in Asia-Pacific.
- Following its November mainnet launch, Monad reports its ecosystem has grown to over $200 million in Total Value Locked (TVL).
- New layer-1 blockchains like Monad face stiff competition, with recent tokens such as ZetaChain’s (ZETA) down significantly from all-time highs.
- Monad’s network claims 10,000 transactions per second (TPS) and targets use cases like high-frequency trading.
Following its Monad mainnet launch in November, the foundation has hired three top executives to spearhead institutional growth. The new hires previously held roles at firms like JP Morgan and Paradigm-backed Monad Labs.
Consequently, the executives will focus on capital markets and brand building in key jurisdictions like Hong Kong and Singapore. According to the foundation, the network has already attracted over $200 million in total value locked across DeFi protocols.
Meanwhile, the network is designed to process up to 10,000 transactions per second. This high-performance, EVM-compatible design specifically targets demanding use cases like payments and on-chain trading.
However, Monad enters a competitive landscape where many recent layer-1 tokens have struggled. For instance, ZetaChain’s native token (ZETA) is down about 98% from its all-time high.
Similarly, Berachain’s (BERA) token has fallen roughly 95%. At the time of writing, Monad’s own (MON) token is trading about 52% below its peak.
This challenging environment is reflected in broader investor sentiment. In November, investor Arthur Hayes predicted most new layer-1 blockchains will fail in the long term.
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