PANews reported on November 18 that, according to The Block, Monad's public token sale through Coinbase started off very well, raising $43 million in just 23 minutes. However, the hype quickly died down, with only about 48% sold as of press time, leaving over $100 million still available for subscription. The sale aims to raise $187 million USDC and will be offered on a fixed-time basis rather than on a first-come, first-served basis. Market concerns have raised questions about its high valuation (FDV of $2.5 billion) and the allocation of 50% of tokens to the team and venture capitalists, leading to a wait-and-see attitude among retail investors. The sale will continue until this Saturday.PANews reported on November 18 that, according to The Block, Monad's public token sale through Coinbase started off very well, raising $43 million in just 23 minutes. However, the hype quickly died down, with only about 48% sold as of press time, leaving over $100 million still available for subscription. The sale aims to raise $187 million USDC and will be offered on a fixed-time basis rather than on a first-come, first-served basis. Market concerns have raised questions about its high valuation (FDV of $2.5 billion) and the allocation of 50% of tokens to the team and venture capitalists, leading to a wait-and-see attitude among retail investors. The sale will continue until this Saturday.
Coinbase's Monad public offering raised $43 million in 23 minutes, but subsequent subscription enthusiasm quickly cooled.
PANews reported on November 18 that, according to The Block, Monad's public token sale through Coinbase started off very well, raising $43 million in just 23 minutes. However, the hype quickly died down, with only about 48% sold as of press time, leaving over $100 million still available for subscription.
The sale aims to raise $187 million USDC and will be offered on a fixed-time basis rather than on a first-come, first-served basis. Market concerns have raised questions about its high valuation (FDV of $2.5 billion) and the allocation of 50% of tokens to the team and venture capitalists, leading to a wait-and-see attitude among retail investors. The sale will continue until this Saturday.
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