Why did Monavale (MONA) price surge by over 50% today?

The price of Monavale (MONA) coin has risen by 50.81% today to trade at $472.75 at the time of writing. The coin has risen by 114.5% over the past month.

In this article, we will focus on what is causing the Monavale price to rally.

What Is Monavale (MONA)?

Monavale is a Creative Commons (CC0) powered by the open Metaverse and Web3 Fashion. It was launched in December 2020. 

Monavale (MONA) is the native token for the DIGITALAX platform and ecosystem which is the leading indie fashion NFT platform that features marketplaces like Metaverse boutique designs, digital fashion, and physical fashion.

DIGITALAX community consists of designers, modders, gamers, developers, and crypto enthusiasts. It also has a team that ensures that the communication flows by maintaining a regular schedule that can be reached from various social networks.

You can also check the platform staking dashboard where users can connect through a Web3 wallet (MetaMask).

Why is Monavale price rising?

There are two main reasons for the current bullish trend of MONA price and they are the CC0 DAO Membership NFTs news and the FUD FAQ release.

1. CC0 DAO Membership NFTs news

One of the main reasons that can be attributed to the current price hike is the news about the CC0 DAO Membership NFTs that will allow users to join the CC0 DAO by purchasing a membership NFT from DIGITALAX or other sale events or even by contributing to DAO through CC0 NFT auction.

2. FUD FAQ release

Yesterday, April 11, the team released a FUD FAQ, where it discussed the future of the NFT market and Web3 as well as highlighted the ongoing events in the industry.

DIGITALAX also released its March transparency report at the end of March giving a summary of the expenditures which showed that the team was well organized when it comes to the management of DAO’s other developments.

Besides, the DIGITALAX project has a staking dashboard, fantastic indie art, DAO governance, and a robust NFT marketplace.