Monad's trading activity rebounded significantly this week. Between June 30th and July 6th, the token price rose from approximately $0.017 to $0.023, a cumulative increase of about 29%. This surge was not simply driven by market fluctuations, but was primarily fueled by ecosystem news and on-chain fund inflows.
MetaMask product launch on Monad
Monad previously announced that MetaMask Money Account would be launched first on the network. According to the project team, this feature allows users to directly access their accounts by linking payment cards and earn DeFi yields.
This news has brought renewed market attention to Monad. The article indicates that the MetaMask brand effect, combined with payment and revenue scenarios, has raised external expectations for Monad's ecosystem expansion and has also caused funds to refocus on this blockchain.
Aave V3 deposits grow rapidly
In addition to product news, Aave V3's progress on Monad also boosted market sentiment. On July 3, Aave V3 announced that its deposits on Monad surpassed $75 million within 24 hours.
This means that Monad's popularity is not just at the conceptual level; there are already actual funds flowing into it on-chain. For a network still in its expansion phase, the growth of deposits in lending protocols is usually one of the important indicators for observing the activity of the ecosystem.
- Aave V3 has over $75 million in deposits.
- The relevant data was achieved within 24 hours.
- Fund inflows occurred on the Monad network.
Derivatives trading amplified simultaneously
As spot prices rebounded, the derivatives market also saw a significant surge. Data shows that trading volume of Monad-related derivatives increased by 292% to $61.17 million; open interest rose by 19.31% to $75.55 million.
A simultaneous increase in both trading volume and open interest typically indicates that more leveraged funds are entering the market. This structure amplifies short-term volatility and suggests that traders are increasingly involved in recent price movements.
- Derivatives trading volume was $61.17 million.
- Trading volume increased by 292%.
- Open interest rose to $75.55 million.
Currently, the price is approaching $0.024. The original text mentioned that this area is worth watching in the short term. If buying continues, the market may continue to rise; if momentum weakens, recent gains may be reversed.
