Zero Token Trading Volume Sparks Concern Over Monarch Wallet's Operational Status

Monarch Wallet is a non-custodial cryptocurrency application that supports over three thousand digital assets, including Bitcoin and Ethereum, on mobile and desktop platforms. It also has integrated decentralized exchange functionality, portfolio tracking tools, and biometric authentication security.

The wallet's native token, MonarchToken, was launched on the Ethereum blockchain with a total supply of one billion tokens, but only 36.5 million have entered circulation to date. The token is listed as an unranked preview listing on CoinMarketCap with no tracked price or trading volume.

Robert Beadles, President of Monarch, launched MonarchPay, a decentralized recurring payment system for businesses and creators, which charges one percent fees compared to Patreon's five to twelve percent processing rate. The advisory board includes Roger Ver of the Bitcoin Foundation and Eric Ly, co-founder of LinkedIn.