Coinbase’s Monad Token Sale Falls Short with $90M Raise Amid Market Skepticism

Coinbase's public token sale platform recently hosted the Monad (MON) token offering, which concluded with mixed results. The sale managed to raise $90 million, representing only 48% of its ambitious $187 million target. Initial momentum saw strong interest with $43 million committed within the first 23 minutes of the sale opening. However, this early enthusiasm quickly dissipated as demand tapered off significantly in subsequent hours. After six hours of the sale being open, more than $100 million worth of tokens remained unsold, indicating substantial investor hesitation. Market analysis suggests the lukewarm reception stems primarily from concerns about Monad's venture-heavy token structure, with 20% of tokens allocated to venture capital firms. This significant VC allocation appears to have dampened broader market participation, as investors expressed skepticism about the distribution model. The shortfall in fundraising highlights ongoing challenges in the cryptocurrency market for large-scale token offerings, even when facilitated through established platforms like Coinbase. The event serves as a notable case study in current market sentiment toward new token launches, particularly those with substantial institutional allocations. As of November 2025, this development reflects the evolving landscape of cryptocurrency fundraising and investor preferences in the digital asset space.

Monad Token Sale on Coinbase Raises $90M Amid Tepid Demand

Coinbase's public token sale platform witnessed lukewarm interest in its Monad (MON) offering, raising $90 million—just 48% of its $187 million target. The sale opened strong with $43 million committed in the first 23 minutes before demand tapered sharply, leaving over $100 million in tokens unsold after six hours.

Market skepticism appears centered on Monad's venture-heavy structure, with 20% of tokens allocated to VCs and a fully diluted valuation hitting $2.5 billion. The performance pales next to MegaETH's recent oversubscribed sale, suggesting investor caution toward high-valuation LAYER 1 projects.

Coinbase continues expanding its token sale infrastructure, making MON available across 80+ countries including the U.S. The exchange's ability to attract retail participation for such offerings remains under scrutiny as the market grows selective.

Coinbase Shares Tumble as Crypto Market Plunges Below Key Levels

Coinbase stock plummeted 7.95% amid a broad cryptocurrency sell-off, with Bitcoin breaking below $92,000 and Ethereum losing its $3,000 support. The exchange's revenue model faces immediate pressure from declining trading volumes and asset prices.

Over 140,900 traders faced liquidations during the downturn, sparking concerns about a prolonged crypto winter. Insiders have offloaded shares aggressively, with CEO Brian Armstrong selling $478 million worth of stock in the past six months.

Institutional investors displayed divided sentiment, with 857 increasing exposure while 513 reduced positions. Despite the bearish momentum, Coinbase retains a 94.98 growth score in Benzinga's rankings—a testament to its resilient infrastructure.