Total value locked in the Monad blockchain currently stands at around $355 million, up more than 55% since the beginning of February.
This figure makes Monad the fastest Layer 1 blockchain to reach $300 million TVL in the last few years, crossing the threshold roughly four months after its November 2025 mainnet launch.
Despite the recent growth, Monad still accounts for less than 0.4% of the approximately $91 billion total TVL tracked across all chains, leaving significant room for share gains.
Monad’s onchain fee generation currently averages under $3,000 a day. That means $355 million in capital is parked on a chain producing annual revenue in the low six figures, making Monad’s fee-to-TVL ratio among the lowest of any chain with meaningful TVL.
While prominent DeFi protocols such as Uniswap, Curve, and Morpho are present in the network, the presence of protocols does not guarantee the presence of actual users. If fee revenue doesn’t scale with TVL, Monad risks joining the growing list of L1s and L2s where capital sits idle chasing token incentives rather than productive yield.
Monad’s MON token has likely priced in this skepticism, as it’s currently valued at a fully diluted valuation (FDV) of $2.2 billion. MON is currently down about 50% from its post-launch peak of $4.7 billion FDV from over four months ago.
This is an excerpt from The Block’s Data & Insights newsletter. Dig into the numbers making up the industry’s most thought-provoking trends.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
