BitMEX co-founder Arthur Hayes has warned that Monad could crash 99%. He said in an Altcoin Daily interview that Monad is set up in such a way that it mainly helps insiders, and not normal users.
With MON already down 25% from the first major pump, many are now questioning its future as there is no real world use case.
Hayes: Monad can crash 99%
During the day the job interviewHayes openly criticized Monad’s symbolic model and future potential. He made it clear that he has no confidence in the way Monad’s token economy is structured.
- Due to the high fully diluted valuation (FDV)
- Very low circulating supply
- Early insiders waiting to sell during peak hype
According to Hayes, Monad’s token lineup is “built for founders and VCs to dump on retail traders once the token hype peaks.
While he admitted that he personally has a very small allocation, he made it clear that he is “99% bearish.”
“It will drop 99%,” Hayes warned, calling Monad a bear chain designed for a big first pump and then a painful crash.
Not even close to Ethereum, not even Solana
Hayes also challenged the narrative that sees Monad as a strong Layer-1 capable of challenging Ethereum’s dominance. He immediately said that Monad has no real chance of beating Ethereum and won’t even overtake Solana in terms of real adoption.
Arthur Hayes believes the biggest problem with Monad is not the technology, but the expectations surrounding it.
He explained that the project makes big promises about performance and innovation, but has not yet clearly shown how it will solve real problems in the crypto world.
MON drops 25% from peak price
Since its launch, Monad’s native token MON has seen strong volatility. After debuting near the public sale price of $0.025, early trading pushed it to around $0.0487, almost double the sale price.
Currently, MON is trading around $0.036 with a market cap of $396.64. This is about 25% lower than the all-time high.
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