Monad continues its bullish momentum after a strong mainnet launch and ecosystem integration. Binance Futures will delist Ponke, Swell, and Quick on November 28th. Three altcoins are bracing for increased volatility in the next few trades.
Digital currency markets were relatively strong on Tuesday, with the value of all cryptocurrencies testing the $3 trillion mark after rising 2% in the past 24 hours.
Meanwhile, analysts are now expecting a big rebound after today’s US PPI showed signs of slowing inflation and the possibility of the Fed cutting interest rates at its December meeting.
In this article, we evaluate three tokens that have continued to garner attention over the past 24 hours.
A new monad steals the show
Layer 1 monads are in the spotlight as the highly anticipated mainnet and token release took place yesterday, November 24th.
Meanwhile, the native token MON surprised analysts and traders.
Experts had expected the new token’s performance to be bearish due to historical trends and broader market weakness.
In fact, most projects are under tremendous sales pressure after their official release, as the community locks in profits after giveaways and airdrops.
However, MON is a different story. Alto briefly fell after the release, hitting an intraday low of $0.02252.
However, excitement continued to build as major projects such as PancakeSwap and Solana revived optimism for the project and sparked a notable overnight recovery.
The asset has risen over 60% in 24 hours and is currently trading at $0.03931.
MON’s daily trading volume surged more than 4,700% to $1.11 billion.
This shows strong interest in a project with a market capitalization of $424 million.
Although the L1 sector may seem saturated, it offers Monad’s EVM compatibility benefits and transaction settlement of up to 10,000 TPS (transactions per second).
In fact, this developer familiarity and large-scale throughput have positioned MON as a technologically promising new player in Layer 1 environments.
Binance to delist PONKE, QUICK, SWELL contracts
While the Monad community is buzzing with optimism, Binance Futures has caused a stir in the altcoin world with an important announcement.
The team informed X on Friday, November 28th that it would terminate the permanent contracts of PONKE, QUICK, and SWELL, adding:
“Following completion of the settlement, the agreement will be delisted.
As expected, after the announcement, the mentioned tokens turned bearish.
The trio has plunged more than 5% in the past day.
Stocks are showing resilience, perhaps due to widespread improvement in broad sentiment, but appear to be bracing for overwhelming volatility over the next few sessions through November 28th.
The team warned of increased volatility, dilution of liquidity and increased liquidation risk in the last hour before final settlement. They said:
Users are strongly advised to actively monitor and manage their open positions during the last hour, as volatility may increase and liquidity may decrease during this period.
Meanwhile, Binance is urging users with active positions to close their positions before Friday’s listing time of 09:00 UTC or face automatic settlement.
Additionally, individuals will no longer be able to open new positions on three contracts after 08:30 UTC on November 28th.
