MON (MON)

monad launched accelerator program called "Nitro" @nitrodotacc with $500k for each accepted team

we're so back and we're just getting started.

monad https://t.co/Jw9HzQnaj2

$MON is kinda interesting as a token. this is an opinion from long observation of the orderbooks since TGE.

there’s no strong demand (thick buy walls)

but at the same time,

there’s no strong offloads (thick sell walls) either.

…

i think MMs are then just doing their thing to try to make sure there is volume for the token within whatever range it moves by itself, but they don’t really have much tokens to actually directly influence the direction of PA.

this is kinda due to the fact there’s no organic demand for the token, yet.

and tbf, it makes me happy that the team itself isn’t trying to falsify demand (cos they can, they have both the firepower and skillset to pump tf out this shit, it’s literally easy peasy for them to do lmfao) but are instead focusing on building the tech and ecosystem and creating some organic demand for the token by virtue of what exists on the network.

team probably got like 7 months ish to create atleast a good base of organic demand and price point for the token tho, just to absorb the psychological impact of unlocks… cos even if they’re not gonna sell, which idt they would at these prices anyways, there’s just this trader psychology around unlocks.

…

i think fact there’s no walls either ways, can be bullish cos it means that w strong demand the token can move sporadically upwards… and for a token that’ll remain low float for a while and team shipping every other day, it’s seems easier to me to bet on there being meaningful demand at some point than meaningful offloads.

personally tried trading this multiple times on leverage and actually got liquidated for the first time ever on one of my own fave tokens, unironically lmao.

and i think this is cos I’ve got this “spot” kinda setup in how i look at things (simply looking at orderbooks etc) rather than leverage (observing a trillion things), so rn tbf just I’m personally sticking to spot and trying to acquire + compound on the amount of $MON i have in the most risk‑free way possible (native staking).

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TLDR - think it’s gonna be super easy for this shit to go up, up really hard and really fast at that, whenever it does decide to. and as the seasoned cockroach i am, i will be there.

some weird moves from some of the new altcoins like $MON $STABLE and also a pump from $BERA...it's really hard to get ahead of these types of moves imo. these pumps seem fairly random and they get retraced quickly. mostly just watching rn https://t.co/GCH5r7fktx