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Coin Price: $0.024835 • 10/28/26
Marinade (MNDE) helps Solana holders earn staking rewards by spreading their coins among computers that verify transactions, with some fees buying tokens for active voting stakers.
Its third-quarter report shows staked SOL rose 21% and revenue increased 26% to approximately $1 million. The current program uses 10% of auction fees to buy MNDE for eligible holders who stake and vote. The report records 4.2 million tokens purchased in the quarter; these are redistributed, not burned.
At approximately $13.6 million reported market cap, MNDE could benefit if growing Solana staking sustains these purchases. Fully diluted valuation is approximately $17.4 million using the approximately 700 million tokens currently issued. Coming auction results through November offer a test of recurring demand. Purchases remain small, and large treasury holdings, thin trading, reward resales and governance or contract attacks could outweigh them.
Opinion: MNDE could offer a potentially undervalued Solana-staking opportunity if coming auction fees sustain token purchases despite treasury supply, thin liquidity and governance risks.
Daily prices (UTC) · through Oct 28, 2026 · CoinGecko
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