Monad's DEX volume hits a record $513M

Record spot volume puts Monad among the top DEX chains

@monad has cleared $513M in 24-hour spot DEX volume, a new record for the high-performance Layer 1 chain. According to DefiLlama data, that figure places Monad just behind Solana, Robinhood Chain, BNB Chain, Ethereum, and Base in the global DEX volume rankings, a notable achievement for a chain that only launched its mainnet in November 2025.

Monad is an Ethereum-compatible chain built to deliver 10,000 transactions per second, sub-second finality, and low fees through parallel EVM execution. That architecture appears to be translating into real trading activity, with spot volume now reaching a level that puts the network in direct competition with some of the most established chains in crypto.

TVL closes in on $1B as perpetuals surge

The DEX volume milestone comes alongside broader momentum across the Monad ecosystem. DeFi TVL on the chain is up 17% over the past month and now sits near $988M, with roughly $774M of that figure made up of stablecoins. Monad's TVL has climbed to $947M from about $52M at launch, according to Monad Community data.

Perpetuals trading has also picked up sharply. Weekly perps volume on Monad reached $935.81M, representing a week-over-week change of nearly 97%. That near-doubling in derivatives activity points to growing demand from active traders, not just liquidity providers rotating capital into the ecosystem.

The stablecoin composition of TVL is worth noting as a signal of ecosystem depth. Monad has surpassed $600M in stablecoins on its blockchain, with its real-world asset market built on tokenized Treasuries, private credit, gold, collateralized loan obligations, and yield-bearing stablecoins. That breadth of asset types suggests the chain is attracting more than speculative volume.

One area of watch for $MON holders is the token unlock schedule. About 6.66 billion MON is set to unlock in November 2026, with another 1.24 billion MON expected to unlock monthly until November 2029. How the market absorbs that supply will be a key test for the chain's momentum heading into next year.

Sources:Monad chain data, DefiLlamaMON Token Surges 44% in a Week as Monad TVL Approaches $1B, Crypto Times