Hyperliquid traders price Monad at $15B before launch

Traders on Hyperliquid price the upcoming Monad (MON) token at $15 billion in fully diluted value ahead of its mainnet launch.

Decentralized derivatives exchange Hyperliquid listed perpetual futures for MON‑USD, allowing users to long or short the token with up to 3x leverage. MON has seen high interest, trading on Hyperliquid’s perpetual market at around $0.15 per token, pushing the estimated fully diluted valuation toward $15 billion.

With 100 billion tokens in total supply, that price puts Monad’s pre-launch fully diluted valuation, at approximately $15 billion – the theoretical market cap if every token traded at current levels.

Monad is an Ethereum-compatible Layer 1 blockchain, designed for 10,000 transactions per second. The project completed its testnet in February 2025, but delayed the mainnet launch from a rumored September 30 rollout due to audits. Monad hasn’t yet announced the mainnet launch date, though it’s expected in the coming months.

Monad Labs was founded in 2022. In February 2023, the company raised $19 million in a seed round led by Dragonfly Capital with backing from over 70 investors, including Placeholder Capital, Lemniscap, and Cobie.

Monad Labs raised $225 million in a Series A round. Paradigm led the round and was joined by Electric Capital, Greenoaks, and Coinbase Ventures.

Monad Labs also secured undisclosed venture funding on May 21, 2024, led by OKX. Total funding stands at around $244 million across four rounds, according to ICO Drops.

Monad’s pre-launch market valuation hits $15B on Hyperliquid