Monad Blasts Past Consolidation Period with 12% Price Surge

Monad's price has surged over 12% in the past 24 hours, breaking out of a two-and-a-half-month sideways range. The altcoin has cemented its position among top blockchains by DEX volume.

The chain's activity growth is promising, with Total Value Locked (TVL) increasing from $1.205 billion to $2.677 billion since mid-July. This represents a more than doubling of TVL in just one month.

Active Addresses and Transactions have also returned to highs seen in mid-July, at 23.83K and over 6.23 million respectively. Capital outflows have reduced by more than half, from $17 million to $8.40 million.

The altcoin is still struggling to breach the resistance at $0.03, which could curtail its ability to repeat a similar uptrend seen in April.