Hyperliquid 的 MON 交易狂潮：估值 140 亿美元——炒作还是未来？

Hyperliquid 上线了 Monad 的 MON 代币，引发了 140 亿美元的估值争论。这是合理的，还是只是发布前的炒作？深入了解这种 DeFi 现象的细节。

Hyperliquid's MON Trading Frenzy: $14 Billion Valuation – Hype or the Future?

Hyperliquid 的 MON 交易狂潮：估值 140 亿美元——炒作还是未来？

Hyperliquid's listing of Monad's MON token with an implied $14 billion valuation has the crypto world buzzing. Is this justified or just pre-launch hype?

Hyperliquid 上市 Monad 的 MON 代币，隐含估值为 140 亿美元，这引起了加密世界的关注。这是合理的还是只是发布前的炒作？

MON Token's Explosive Debut

MON Token爆发式亮相

Hyperliquid, the decentralized perpetual futures exchange, recently listed Monad's MON token for pre-market trading. The implied fully diluted valuation (FDV) immediately hit between $14 billion and $15 billion, igniting intense discussion and significant trading volume. This move highlights the growing importance of decentralized platforms in early price discovery, offering a glimpse into potential valuations before the official launch.

去中心化永续期货交易所 Hyperliquid 最近上线了 Monad 的 MON 代币进行盘前交易。隐含的完全摊薄估值 (FDV) 立即达到 140 亿至 150 亿美元之间，引发了激烈的讨论和巨大的交易量。此举凸显了去中心化平台在早期价格发现中日益重要的重要性，让人们可以在正式推出之前了解潜在估值。

Market Reaction and Price Volatility

市场反应和价格波动

The MON token contracts started trading around $0.14 to $0.15 on Hyperliquid's "hyperps." The initial hours saw trading volume soar to between $19.3 million and $22.2 million, with open interest exceeding $4 million to $5 million. However, pre-market trading is inherently volatile, with lower liquidity and higher risks. Past pre-market examples, like Notcoin (NOT) and Aevo (AEVO), show that initial prices can diverge significantly from post-launch values.

MON 代币合约在 Hyperliquid 的“hyperps”上开始交易，价格约为 0.14 至 0.15 美元。最初几个小时，交易量飙升至 1930 万美元至 2220 万美元，未平仓合约超过 400 万美元至 500 万美元。然而，盘前交易本质上具有波动性，流动性较低，风险较高。过去的上市前例子，例如 Notcoin (NOT) 和 Aevo (AEVO)，表明初始价格可能与发布后的价格存在显着差异。

Community and Ecosystem Buzz

社区和生态系统热议

The listing has sparked vibrant debate across the crypto community. While many are excited about Monad's potential, some express skepticism about the $14 billion valuation, especially considering the 100 billion token supply. Concerns about dilution have led to playful jabs, but proponents argue that the large supply is necessary for a high-throughput network. Monad's engagement with its community, including an "airdrop claim loading" progress bar, has intensified anticipation and prompted warnings about potential scams.

此次上市引发了整个加密货币社区的激烈争论。尽管许多人对 Monad 的潜力感到兴奋，但也有人对 140 亿美元的估值表示怀疑，特别是考虑到 1000 亿的代币供应量。对稀释的担忧引发了有趣的攻击，但支持者认为，大量供应对于高吞吐量网络是必要的。 Monad 与其社区的互动，包括“空投索赔加载”进度条，增强了人们的预期，并引发了有关潜在诈骗的警告。

Monad's Technical Ambitions and Impact

Monad 的技术抱负和影响

Monad's full Ethereum Virtual Machine (EVM) compatibility is a major draw, potentially allowing existing Ethereum dApps to migrate easily. PancakeSwap already boasts a significant Total Value Locked (TVL) on the Monad testnet, signaling early adoption. Monad's architecture aims to support high-frequency DEXs and real-time lending applications, while its engagement with the NFT space and acquisition of Portal Labs demonstrate its commitment to a full-stack payments solution.

Monad 的完整以太坊虚拟机 (EVM) 兼容性是一个主要吸引力，可能允许现有以太坊 dApp 轻松迁移。 PancakeSwap 已经在 Monad 测试网上拥有显着的总价值锁定（TVL），这标志着早期采用。 Monad 的架构旨在支持高频 DEX 和实时借贷应用程序，而其对 NFT 领域的参与以及对 Portal Labs 的收购表明了其对全栈支付解决方案的承诺。

Looking Ahead: What's Next for Monad?

展望未来：Monad 的下一步是什么？

Monad's success will significantly influence the narrative around scalable Layer 1 (L1) solutions. Key catalysts to watch include the Monad mainnet launch, the airdrop event, ecosystem growth, and major exchange listings. Investors should prioritize due diligence and risk management, while projects should focus on core technology, transparent tokenomics, and community building.

Monad 的成功将极大地影响有关可扩展第 1 层 (L1) 解决方案的叙述。值得关注的关键催化剂包括 Monad 主网启动、空投活动、生态系统发展和主要交易所上市。投资者应优先考虑尽职调查和风险管理，项目应关注核心技术、透明的代币经济和社区建设。

My Take: Is Monad Worth the Hype?

我的看法：Monad 值得大肆宣传吗？

The $14 billion valuation is definitely eye-catching. While Monad's tech promises are impressive – 10,000 TPS, EVM compatibility, and parallel execution – it's crucial to remember that pre-market valuations are often based on speculation and hype. Whether Monad can live up to its potential remains to be seen, but its innovative approach and strong backing make it a project worth watching closely. For me, the airdrop progress at 98% loading is a good signal for this project.

140亿美元的估值绝对引人注目。虽然 Monad 的技术承诺令人印象深刻——10,000 TPS、EVM 兼容性和并行执行——但重要的是要记住，上市前估值通常基于投机和炒作。 Monad 能否发挥其潜力还有待观察，但其创新的方法和强大的支持使其成为一个值得密切关注的项目。对我来说，98%加载的空投进度对于这个项目来说是一个很好的信号。

The Bottom Line

底线

Hyperliquid's listing of Monad's MON token is a landmark event, underscoring the market's appetite for innovative L1 solutions. However, it's essential to approach this with caution, recognizing the inherent risks and volatility. Monad's journey will be shaped by its ability to deliver on its promises, attract developers and users, and navigate regulatory uncertainties.

Hyperliquid 上市 Monad 的 MON 代币是一个里程碑事件，凸显了市场对创新 L1 解决方案的兴趣。然而，必须谨慎对待这一问题，认识到固有的风险和波动性。 Monad 的旅程将取决于其兑现承诺、吸引开发人员和用户以及应对监管不确定性的能力。

So, is Monad the future of DeFi? Only time will tell. But for now, buckle up and enjoy the ride – it's gonna be a wild one!

那么，Monad 是 DeFi 的未来吗？只有时间才能证明一切。但现在，系好安全带，享受这段旅程吧——这将是一场疯狂的旅程！