# What’s Next for Monad?

*Author: Bankless*
*Published: Aug 28, 2024*
*Source: https://www.bankless.com/es/whats-next-for-monad-2*

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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/08/Frame-50572--4--1.png)](https://www.bankless.com/sponsor/cartesi-1713304933?ref=exploring-monads-early-defi-ecosystem&email=true)

  
What’s Next for Monad?
  

  
Published on Aug 28, 2024

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  View in Browser

](https://bankless.com/read/briefs)
 

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[**Sponsor: Cartesi**](https://www.bankless.com/sponsor/cartesi-1713304933?ref=exploring-monads-early-defi-ecosystem&email=true) — Discover the power of Linux for your ambitious dApps, only on Cartesi.

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.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
SEC vs. OpenSea
  

  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/08/Group-14--97-.png)](https://www.bankless.com/dashboard)- 🌊 **OpenSea Receives Wells Notice from SEC. **The NFT marketplace is the latest crypto entity to [receive the threat of legal action](https://www.bankless.com/opensea-receives-wells-notice-from-sec) from the SEC over potential securities violations.
- 🐶 **TON Deals with Memecoin-Led Crash.** After a six-hour outage, the network's [native token is up](https://www.bankless.com/ton-bounces-back-after-memecoin-led-crash), and its hottest memecoin is at the head of the pack.
- 🟠 **Bitcoin L2 Stacks Activates Nakamoto Upgrade. **The long-awaited hard fork [has been activated](https://www.bankless.com/bitcoin-l2-stacks-activates-nakamoto-upgrade) but won't be finalized until the end of a roughly two-week stacking cycle.

.  .  .

 
  
    

    MARKET VIBES

  
  

    TON Flails & Fights
    
  
   
     
   
     
    
 

**📸 Daily Market Snapshot: **The crypto market failed to mount a significant bounce-back after yesterday's steep losses. However, TON, which has seen two separate prolonged outages over the past 24 hours, is showing more resilience than most. The native token is one of few that remains in the green on the day, and the DOGS memecoin [allegedly](https://x.com/ToncoinStatus/status/1828846421149397376) causing its network problems is crypto's top trading token, [up 22% today](https://coinmarketcap.com/currencies/dogs/).

Prices as of 6pm ET
24hr
7d

 

       ![](https://banklesspublic.b-cdn.net/cmc.png)
    

  **Crypto**
   
          $2.09T
       

  
    
    ↘ 2.3%
    
  

   
    
    ↘ 3.2%
    
  

       ![](https://banklesspublic.b-cdn.net/btc.png)
    

  **BTC**
   
          $59,017
       

  
    
    ↘ 0.4%
    
  

   
    
    ↘ 3.9%
    
  

       ![](https://banklesspublic.b-cdn.net/eth.png)
    

  **ETH**
   
          $2,524
       

  
    
    ↗ 2.8%
    
  

   
    
    ↘ 4.3%
    
  

       ![](https://s2.coinmarketcap.com/static/img/coins/64x64/23121.png)
    

  **BLUR**
   
          $0.159
       

  
    
    ↘ 3.8%
    
  

   
    
    ↘ 9.9%
    
  

  

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🟧**New Token Rating: **NFT exchange OpenSea was just served with a Wells Notice by the SEC. What implications will this development have on the **BLUR** token?[Unlock BLUR on Token Hub](https://www.bankless.com/tools/token-hub/blur)

.  .  .

 
  
    

ANALYSIS

  
  
    
   
Exploring Monad's Early DeFi Ecosystem

  
  
   
     
     Bankless Author: 
     
       [
       
       David C.](https://x.com/davewardonline)
     
    
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/08/image---2024-08-28T173858.004.png)](https://www.bankless.com/exploring-monads-early-defi-ecosystem)Slowly but surely, we are inching closer toward one of the most anticipated launches of this cycle — **Monad**.

The [parallelized](https://www.bankless.com/monad-technical-innovations), EVM-compatible L1, which boasts $225M in funding from Coinbase, Electric Capital, and Paradigm, has been in testnet since March. The chain has already reached 10,000 transactions per second, an achievement that's led to hype around the chain's potential to supercharge DeFi.

With the chain continuing to grow mindshare, more teams are building on it, providing us with an early sense of how Monad’s DeFi landscape will take shape. **Let's dig into a few of the hyped, early projects** 👇

[Read More on Bankless.com](https://www.bankless.com/exploring-monads-early-defi-ecosystem)
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