Analysis: The Monad Token MON surged over 35% on its first day of launch, after which market sentiment turned bearish, with a net long positions decrease of up to 118% among the top 100 addresses.

The MON token issuance of Monad is exceptionally strong, with a first-day rise of over 35%. In contrast, most new token issuances driven by airdrops (TGE) tend to quickly fall in a weak market, indicating that the early excitement is fading. The selling that may result from airdrop claims, the decrease in Perptual Futures Holdings, and weak volume are all putting short-term pressure on Monad's price prediction chart.

Due to the lack of long-term historical data, MON is still in the issuance phase, making short-term signals more important than ever. Perptual Futures Holdings is the clearest early signal for MON, as most of the new liquidity in the early trading phase flows into Perptual Futures Holdings. These operations often lead the spot price, especially in cases of high volatility.

In the past 24 hours, market sentiment has turned bearish. The top 100 addresses or super whales have significantly reduced their net long positions by as much as 118%, indicating that they are closing positions faster than ever. A decline of 118% means that net long positions have turned negative, indicating a substantial decrease in holdings. Smart money is still in a negative position of $103.94 million (bearish), with a decline of 628%, suggesting that the most effective traders are strongly bearish.

These changes collectively indicate that aggressive participants are reducing upside risks, while volatility remains high. This sets the tone for the upcoming price analysis. (BeinCrypto)