The Monad Foundation’s $60 million liquidity program has closed with most early investors rejecting the offer to sell locked MON supply at a discount, choosing instead to HODL. This preference is positive from a supply-demand perspective, as nearly all initial offers were declined. However, the rejection does not directly signal a bullish trend, as the program was designed to reduce selling pressure from early investors holding approximately 19.7 billion MON — about 20% of the original supply. The upcoming unlocks remain a key concern, and the token’s technical setup shows weakness below $0.025 with a bearish lower-high formation.
The Monad Foundation’s $60 million liquidity program has recently closed. The program provided early investors with an opportunity to sell their portion of the locked MON supply at a discount.
Almost all initial offers were rejected, meaning most investors preferred to HODL their shares rather than sell at a discounted price. From a supply-demand standpoint, this development is overall positive for the token’s performance.
The Foundation launched the program to potentially prevent selling pressure from early investors holding around 19.7 billion MON, nearly 20% of the original supply. The rejection by early investors cannot directly be seen as a bullish signal.
The upcoming unlocks could provide additional selling pressure, with the first significant investor unlocks scheduled for November. The rejection of the program by early investors could signal strength, as most chose to HODL rather than sell.
The technical setup of MON contradicts this thesis, with the price consolidating below $0.025 for over a month as bulls have failed to make progress. MON is forming lower highs, suggesting the overall trend remains bearish.
The next critical level to watch is $0.019 to $0.020. A break below it improves the chances of a bearish scenario, whereas a rebound above $0.021 to $0.022 would suggest bulls are stepping back in.
Recent intraday weakness shows bears remain in control. By choosing not to sell, early investors also leave locked tokens outside the Foundation’s control, meaning the potential supply overhang remains ahead of November.
If buyers fail to defend $0.019 to $0.020, the token could see another leg lower.
