Arthur Hayes: Monad Could Plummet 99%, Another High-FDV Low-Circulation VC Coin

November 30th, BitMEX co-founder 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 significant risk, potentially leading to a 99% crash. Typically, there will be an early pump, followed by a brutal sell-off after insiders' token unlocks. It will become another "bear chain."Arthur Hayes believes that most new Layer-1 networks will eventually fail, with only a few surviving in the long term. He listed protocols he believes will survive the next cycle: Bitcoin, Ethereum, Solana, and Zcash.