Monad Raises $269M in Coinbase Sale; Binance Alpha to List IRYS Nov.25
Monad completed its public token sale on Coinbase, attracting 85,820 participants and raising $269 million, with the mainnet launch scheduled for next week. Meanwhile, Binance’s Alpha platform will list Irys (IRYS) on November 25 and open a Kyuzo’s Friends (KO) airdrop for qualified users. Traders should note potential sell pressure when unlocks hit the market and anticipate increased trading volume around the IRYS listing. Recent on-chain data also highlights significant movements: a hacker exploited Port3’s BridgeIn vulnerability to mint and dump PORT3 tokens causing a 77% crash, and the 1inch team moved 6.01 million 1INCH tokens from Binance. Additionally, a single address deposited 8,920 ETH into Binance, potentially offloading at a loss. These developments offer key trading signals for altcoin liquidity and risk management.
Neutral
The successful public sale of MON indicates strong investor interest in new token offerings, potentially buoying altcoin sentiment. However, the influx of tokens upon mainnet launch often generates short-term sell pressure, tempering immediate bullish outlook. Binance Alpha’s upcoming IRYS listing is likely to drive trading volume and price volatility, as past listings show transient price spikes followed by consolidation. On-chain events such as the Port3 hack and large token movements by the 1inch team signal heightened risk and liquidity shifts. Overall, these mixed factors suggest a neutral impact: short-term volatility with potential trading opportunities, but uncertain direction until net demand materializes.