Arthur Hayes "Monad could crash 99%... high-risk VC coin"

BitMEX founder Arthur Hayes expressed a negative view of Monad (MON), which recently launched its mainnet.

On the 29th (Korean time), according to crypto outlet Cointelegraph, Hayes warned in an Altcoin Daily interview that "Monad is a typical venture capital (VC) coin with a high FDV (fully diluted value) and a low circulating supply structure," saying "it could crash 99%." Monad is a project that received $225,000,000 from the crypto VC paradigm last year and unveiled its token this week along with its mainnet launch.

Hayes pointed out, "The excessively large total issuance relative to initial circulating supply is disadvantageous to retail investors," and added, "It is a coin that pumps early but has weak sustainable demand and repeatedly crashes when insider supply is unlocked."

He also named only Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Zcash (ZEC) as layer-1 coins likely to survive in the long term.

Meanwhile, Hayes expressed an optimistic view on the overall market outlook. He said, "Ahead of the political season and an economic slowdown, major countries such as the United States will expand liquidity provision," adding, "We are at the beginning of the cycle, and large-scale liquidity injections will begin in earnest."