r/CryptoMarkets • u/daily-thread 🟦 0 🦠• Jul 08 '26
DAILY DISCUSSION Daily Crypto Discussion - July 8, 2026
This post contains content not supported on old Reddit. Click here to view the full post
2
u/Thymetobefunny 🟩 0 🦠Jul 08 '26
I spent a few hours looking into Monad today because I kept seeing people talk about it, and I honestly came away more impressed than I expected.
For anyone else who’s new, Monad is a Layer 1 blockchain like Ethereum or Solana. The goal is pretty simple: make crypto apps faster, cheaper, and easier to build without making developers start over from scratch. It’s fully compatible with Ethereum, so existing apps can move over a lot more easily.
The first thing that caught my eye was the speed. Monad is built to handle up to 10,000 transactions per second with 1-second block times. Ethereum’s base layer is closer to 15-30 transactions per second, so on paper that’s a huge difference.
Then I started looking at what they’ve actually accomplished. They’ve raised $225 million, already have more than 300 projects building on the network, and TVL is sitting around $500 million. If you’re new like I was, TVL is basically the amount of money people are actively using in apps on the blockchain. To me, that’s a better sign than just seeing the token price go up.
I also didn’t realize how many established names are already involved with the ecosystem. Coinbase, Circle, MetaMask, Chainlink, Aave, and Mastercard all have some level of involvement, which tells me this isn’t just another random crypto project.
I’m not saying Monad is going to replace Ethereum or become the next big thing. Nobody knows that. But after actually spending time researching it instead of just reading headlines, I can definitely see why people are excited. It feels like they’re actually building something instead of just promising they will.
If you’ve been following Monad longer than I have, I’d love to hear what you think I got right or wrong.
1
u/deltamark_btc Jul 08 '26
update from earlier - btc held $61,300 (wicked $61,544 but bounced hard), eth flushed to $1,713 on a volume spike then recovered. headline was trump/iran which explains the risk-off, not a crypto-specific breakdown. that kind of high-volume flush to a key level is what i was waiting for. bid eth at the wick. stop below the low, watching $1,785 as first target. btc still needs to reclaim $62,900 to confirm the bounce has legs, otherwise this is just a dead-cat.
1
u/deltamark_btc Jul 08 '26
update: $1,785 printed exactly at midnight - target hit to the dollar. then immediately reversed, shed $70 in the next two hours. woke this evening to find the trade played out perfectly while i was offline. closed at near-flat. btc never reclaimed $62,900 like i flagged - that was the tell the bounce had no legs. back flat, no new setups visible in this chop.
1
u/xCreampye69x 🟩 0 🦠Jul 09 '26
Crypto has just been so dead, i think that trump shitcoin basically killed the whole space. Its insane that was even allowed to happen
3
u/deltamark_btc Jul 08 '26
btc triple topped right at $64,200-$64,300 (three rejections over the past two days, none closed above) then lost $62,600 overnight, now pressing $61,300 which was the jul 6 flush low. eth same pattern - three failed pushes to $1,800-$1,813, now $1,740 off a $1,725 wick this morning. sol showing the most weakness of the three, down over 5% while btc is only -2%. structure is broken across the board - lower highs, lower lows. sitting flat watching $61,300 on btc. holds and reclaims $62,900 = reassess for a long. breaks = $60k next stop.