Monad Price To Crash 99%? BitMEX Co-Founder Calls Protocol Another Berachain

The Layer 1 blockchain Monad has grabbed the headlines in the past few days following its successful launch earlier last week. MON, its native token, enjoyed a significant 80% surge on the back of the launch, hitting an all-time high of 0.048 on Wednesday, November 26. While the Monad protocol has enjoyed significant attention since going live, it appears that not everyone is confident in its potential adoption. Most notably, BitMEX co-founder Arthur Hayes has put forward a pessimistic outlook for the project, saying its token value could fall as much as 99%. Monad Has No Real Use Case: Hayes In a YouTube interview with Altcoin Daily, Hayes stated that any other Layer 1 blockchain besides Ethereum and Solana is “zero” and is not going to do very well. Using Monad as an example, the former BitMEX CEO described the protocol’s coin as another “high FDV, low-float” token. Related Reading: Solana Braces For A Dual-Test Setup – Here’s What Could Happen Next Hayes said that Monad is going to