On November 30th, Arthur Hayes and Monad co-founder Keone Hon engaged in a war of words regarding Monad being a "high FDV, low circulation VC coin." In response to Keone Hon's invitation to experience the Monad mainnet, Arthur Hayes reiterated, "Unlock all the tokens now, and you'll be completely different from all those so-called Ethereum killers. I bet you'll succeed."
As previously reported, Arthur Hayes stated in an interview that Monad (MON) is "yet another high FDV (fully diluted valuation), low circulating supply VC coin." This token structure itself exposes retail investors to enormous risks, potentially leading to a 99% drop. It typically experiences an early surge, followed by a brutal sell-off after insider tokens are unlocked. It will become another "bear chain." Arthur Hayes believes that most new Layer-1 networks will ultimately fail, with only a very few surviving in the long term.
