Overview
- Hayes told Altcoin Daily he expects most new Layer‑1 tokens to trend toward zero and singled out Monad’s MON as a high FDV, low‑float structure vulnerable to severe drawdowns.
- AMBCrypto reports MON has fallen below its $0.0288 launch price, with on‑exchange liquidations mounting and two large traders losing a reported $3.23 million in 24 hours.
- Monad co‑founder Keone Hon countered that the chain uses a 170‑validator model with MonadBFT, async execution, and audited, from‑scratch code aimed at speed without a centralized sequencer.
- Hon said the MON sale on Coinbase used a bottom‑fill allocation to curb whale concentration, while Hayes maintained that token design, not technology, is the core problem.
- Coverage notes Monad’s late‑November mainnet launch with rapid listings and heavy early trading, as Hayes reiterated his longer‑term preference for Bitcoin, Ethereum, Solana and Zcash despite a broadly bullish liquidity outlook for crypto.