Monavale Crypto: Worthy Investment Or Risky Gamble?

Monavale (MONA) is the native token of the DIGITALAX platform, which aims to create online fashion for the Web 3.0 era. It is an Ethereum-based token, serving as a utility token and playing a role in the platform's governance. The token's value has fluctuated since its launch in December 2020, reaching an all-time high of $5,980.87 in November 2021. As of September 2024, its price stands at around $74.12 with a market cap of about $772,896, making it the 1827th-largest crypto by that metric. With its dual purpose within the platform and its integral role in facilitating transactions and activities, Monavale has potential, but is it a good investment?

Monavale's price history

Monavale, also known as MONA, is the native token of the DIGITALAX platform. It is an Ethereum token that is used to power the platform. Holders can vote on decisions regarding the network's future and purchase items on the platform using MONA. Additionally, it can be bought, sold, and traded on exchanges.

When Monavale was first introduced to the open market in December 2020, its value was approximately $1,000. The price fluctuated until early 2021, when the market entered a bullish phase, and MONA reached its peak of $2,843.59 on March 20, 2021, just before its listing on the Quickswap decentralised exchange. However, following the crypto market crash in May 2021, MONA's value plummeted, and it spent the summer below $400.

MONA recovered towards the end of 2021, surpassing $2,000 again and reaching an all-time high of $5,980.87 on November 16, 2021. However, this high was short-lived, and the token ended the year at $701.06.

Despite the crypto market's poor performance in 2022, MONA was one of the few tokens to increase in price. However, it experienced a combination of market crashes, causing it to drop to $121.42 on June 13, 2022. The announcement that MONA would be available on the Coinbase crypto exchange helped it rebound, surpassing $1,000 until mid-August. Since then, the price has mostly declined, and on September 21, 2022, it was valued at about $758.

As of June 12, 2024, Monavale's price had decreased to $121.36, a 6.32% drop in the previous week. The circulating supply was 10,428.128 MONA, and the market cap was $1.27 million.

Monavale's price predictions

Monavale (MONA) is the native token of the DIGITALAX platform, which aims to create online fashion for the Web 3.0 era. It is a part of the Metaverse and can be used to purchase digital fashion NFTs.

• CryptoPredictions predicted a bearish outlook for Monavale, with the token dropping to $694.83 by the end of 2022 and slowly recovering to $834.45 by September 2023. By September 2025, they predicted Monavale could be worth just under $1,415.14, and by September 2026, it could reach $1,657.81.
• CoinArbitrageBot was much more optimistic, forecasting that Monavale could rise to $985.34 in 2022 and end 2023 at $1,735.70. By 2024, they predicted Monavale could be worth $2,837.49, and by 2025, it could reach $4,591.06, indicating a nearly 500% increase in three years.
• PricePrediction's outlook started lower, with Monavale dropping to $677.48 in 2022 and then rising to $984.22 in 2023 and $1,416.22 in 2024. By 2025, they predicted Monavale could be worth $2,057.62, and by 2026, it could trade at a potential $2,960.77. Their long-term forecast saw Monavale breaking the $10,000 mark by 2030, reaching a potential $12,692.87.
• WalletInvestor took a more pessimistic view, forecasting that Monavale would lose more than half its value by September 2023, standing at just under $338.74.

It is important to remember that cryptocurrency markets are extremely volatile, and price predictions are often wrong. As such, it is recommended to do your own research and consider the latest market trends, news, technical and fundamental analysis, and expert opinions before making any investment decisions.

Monavale's use cases

Monavale, also known as MONA, is the native token of the DIGITALAX platform. Here are some of its use cases:

Facilitating Transactions and Activities on the DIGITALAX Platform

MONA is deeply intertwined with the operations of the DIGITALAX platform, which serves as a hub for creativity and innovation in the metaverse. The token enables transactions and activities within the platform, including the creation and collection of NFTs, which are seen as conductors for what motivates people in the virtual world.

Governance and Decision-Making

MONA holders can influence the platform's development and strategic direction by participating in governance. This includes making decisions about new features and changes to existing ones. As the platform's native token, MONA gives holders a say in the future of the network.

Incentivising Utility and Application in the Player-Creator Economy

As an Ethereum token, MONA is used within the DIGITALAX protocol's architecture to incentivise utility and application in the Player-Creator economy. It ties together players, developers, and designers in a digital and real world.

Gaming and Esports

Developers use MONA as a prize, acquiring and staking the token on their featured games to reward winning players. MONA also serves as a transparent activity ledger for players to record their game outcomes. When players achieve certain MONA thresholds, they can leverage themselves within the ecosystem and start earning consistent, sustainable value.

Fashion and Digital Couture

DIGITALAX is a digital-only fashion auction exchange platform and open-source digital fashion toolkit. The platform has collaborated with world-renowned digital fashion designers, whose creations are sold as NFTs at auction. Monavale, as the platform's native token, is integral to these transactions.

Monavale's availability on Coinbase

Monavale (MONA) is an Ethereum token used for the DIGITALAX platform. It is deeply embedded in the protocol's architecture, incentivising utility and application in the Player-Creator economy. MONA is the fuel that connects players, developers, and designers in a world that blends the digital and the physical.

As of February 2024, Monavale was not available on Coinbase's centralised exchange in the United States. However, it could be purchased by executing a Trade on DEX within the Coinbase app. Users could access a variety of tokens only available on DEXs such as Uniswap, Sushiswap, Curve, and Balancer.

To buy Monavale on the Coinbase app, users must first create a Coinbase account and download the app. A valid ID and proof of address are required to transact on the platform. After navigating to the "Trade" tab, users can search for Monavale and select it from the list of assets. The next step is to enter the amount of ETH to be traded for Monavale and preview the trade. If the user does not have ETH in their primary Coinbase account, they can purchase it with cash or transfer it from another wallet. Finally, they can complete the trade for Monavale and return to the DEX.

As of June 2024, Monavale was available on the Coinbase web3 wallet. The price of Monavale at that time was $121.36 per MONA, with a 24-hour trading volume of $41.37. The current circulating supply of Monavale was 10,428.128 MONA, giving it a market cap of $1.27 million.

Monavale's market cap

Monavale, also known by its ticker MONA, is the native token of the DIGITALAX platform. As of 21 September 2022, Monavale had a market cap of about $7.7 million, making it the 812th-largest crypto by that metric.

On 27 September 2024, Monavale had a circulating supply of 10,428 MONA and a maximum supply of 11,300 MONA. Its price on that day was $81.88, with a 24-hour trading volume of $12,242.

As of 21 September 2022, there were 10,414.13 MONA in circulation out of a total supply of 10,895. On that day, its price was about $758. Monavale first entered the open market in December 2020 with a value of about $1,000. Its highest value was on 16 November 2021, when it reached $5,980.87.

Monavale is a part of the Metaverse, but it is not a metaverse crypto. It is the utility and governance token of the DIGITALAX platform, which is a "digital-only fashion auction exchange platform and open-source digital fashion toolkit". DIGITALAX allows users to create and buy transferable fashion NFTs for use in various metaverse platforms.

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