The post Arthur Hayes warns of Monad’s 99% drop, calls it a ‘high FDV, low-float VC coin’ appeared on BitcoinEthereumNews.com. Monad has been one of the latest sensations in the industry, with its Coinbase initial coin offering (ICO) raising $269 million in record time. However, speculation around Monad’s [MON] sustainability has intensified among market participants. This concern has already reflected in its short-term performance, with the token declining by 24%. Hayes: MON will go to zero Arthur Hayes, co-founder of BitMEX and Chief Investment Officer at Maelstrom, stated in a recent Altcoin Daily interview that nearly every Layer 1 token will trend toward zero over time, except Bitcoin [BTC], Solana [SOL], and Ethereum [ETH]. He specifically noted that Monad’s recent ICO success does not guarantee strong long-term performance, stating that the network could become “another bearish chain.” Speaking about the token, Hayes added that MON could fall by as much as 99%, describing it as “another high FDV, low-float VC coin.” He implied that insiders overvalue and tightly control the token, and will likely dump it once the locked tokens are released. According to Hayes, the initial pump most tokens experience does not translate into long-term sustainability. He added that many projects are simply attempting to recreate the missed opportunity of Ethereum in 2014. His bearish stance comes after a 25th of November announcement that he would close his position. Strong tech, weak tokenomics In response, Monad co-founder Keone Hon pushed back against Hayes’ claims, stating that Monad has launched some of the most innovative technology currently available in the market. Hayes doubled down on his stance, arguing that the issue has nothing to do with technology, but rather weak tokenomics. He stated clearly that he does not care about the tech. He said, “Tell the community how you will maintain this price level with ~1% monthly inflation driven by staking rewards.” Hayes added that real usage will drive MON’s… The post Arthur Hayes warns of Monad’s 99% drop, calls it a ‘high FDV, low-float VC coin’ appeared on BitcoinEthereumNews.com. Monad has been one of the latest sensations in the industry, with its Coinbase initial coin offering (ICO) raising $269 million in record time. However, speculation around Monad’s [MON] sustainability has intensified among market participants. This concern has already reflected in its short-term performance, with the token declining by 24%. Hayes: MON will go to zero Arthur Hayes, co-founder of BitMEX and Chief Investment Officer at Maelstrom, stated in a recent Altcoin Daily interview that nearly every Layer 1 token will trend toward zero over time, except Bitcoin [BTC], Solana [SOL], and Ethereum [ETH]. He specifically noted that Monad’s recent ICO success does not guarantee strong long-term performance, stating that the network could become “another bearish chain.” Speaking about the token, Hayes added that MON could fall by as much as 99%, describing it as “another high FDV, low-float VC coin.” He implied that insiders overvalue and tightly control the token, and will likely dump it once the locked tokens are released. According to Hayes, the initial pump most tokens experience does not translate into long-term sustainability. He added that many projects are simply attempting to recreate the missed opportunity of Ethereum in 2014. His bearish stance comes after a 25th of November announcement that he would close his position. Strong tech, weak tokenomics In response, Monad co-founder Keone Hon pushed back against Hayes’ claims, stating that Monad has launched some of the most innovative technology currently available in the market. Hayes doubled down on his stance, arguing that the issue has nothing to do with technology, but rather weak tokenomics. He stated clearly that he does not care about the tech. He said, “Tell the community how you will maintain this price level with ~1% monthly inflation driven by staking rewards.” Hayes added that real usage will drive MON’s…