The Monad (MON) token presale on Coinbase has successfully raised $269 million, significantly exceeding its initial target of $187.5 million. The presale, which took place from November 17 to 22, 2025, attracted 85,820 participants and has sparked discussions regarding the token's valuation and market potential. Despite the impressive fundraising, some analysts have expressed concerns over Monad's current market performance. The project's total value locked (TVL) is reported at $68 million, with a 24-hour DEX trading volume of $7.3 million, figures that some view as underwhelming given its $4.5 billion market cap. The presale's success has also heightened interest in Best Wallet’s ($BEST) upcoming token sale, which is currently raising over $17.5 million and offers a 75% APY staking reward.