tldr; Arthur Hayes, former BitMEX CEO, warns that Monad, a newly launched layer-1 blockchain, could crash by 99% due to its high Fully Diluted Value (FDV) and low circulating supply, which he claims puts retail investors at risk. Hayes criticizes the project as a venture capital-driven ‚VC coin‘ with limited long-term potential. He predicts most new layer-1 networks will fail, with only a few like Bitcoin, Ethereum, Solana, and Zcash surviving. Monad raised $225M from Paradigm and launched with an airdrop of its MON token.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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Shitcoins can crash? 🤔
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tldr; Arthur Hayes, former BitMEX CEO, warns that Monad, a newly launched layer-1 blockchain, could crash by 99% due to its high Fully Diluted Value (FDV) and low circulating supply, which he claims puts retail investors at risk. Hayes criticizes the project as a venture capital-driven ‚VC coin‘ with limited long-term potential. He predicts most new layer-1 networks will fail, with only a few like Bitcoin, Ethereum, Solana, and Zcash surviving. Monad raised $225M from Paradigm and launched with an airdrop of its MON token.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Shitcoins can crash? 🤔