Monad's current total value locked (TVL) is approximately $355 million, marking a growth of over 55% since early February 2026. It surpassed $300 million about 4 months after its mainnet launch. However, its TVL accounts for less than 0.4% of the total $91 billion across all chains, and the average daily on-chain fee revenue is under $3,000. The fee-to-TVL ratio remains low, indicating limited capital efficiency, with funds likely relying more on incentives rather than actual usage. (The Block) https://(wublock123.com)/news/monad-tvl-355m-low-fees-utilization-concerns-58977