Coinbase-Listed Altcoin Announces It Can Make Massive Purchases of Its Own Token

Category Labs, the development team behind the Monad (MON) ecosystem, announced that they are considering a buyback of MON tokens from the open market in the first half of 2026. The announcement, made via the X platform, stated that subject to adherence to current regulations, the total amount of the buybacks could reach up to $30 million.

Category Labs stated that the buyback process is entirely at the company’s discretion and may be initiated, suspended, or terminated depending on market conditions. The statement clarified that this announcement does not constitute a commitment to purchase a specific amount of tokens, but merely indicates that opportunistic buybacks will be considered when suitable market conditions arise.

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The company’s statement read: “Category Labs may, from time to time and subject to applicable laws and regulations, consider purchasing up to $30 million worth of MON tokens from the open market in the first half of 2026. Any potential purchases may be initiated, suspended, or terminated at our sole discretion. This announcement is not a commitment to acquiring a specific amount of tokens; it reflects our intention to consider opportunistic purchases depending on market conditions.”

MON’s price has dropped by 25% in the last week. The Coinbase-listed altcoin has a market capitalization of $193 million.

*This is not investment advice.

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