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

Overview

The Layer 1 blockchain Monad has recently made headlines due to its successful launch and the subsequent performance of its native token. Despite an initial surge in value, skepticism about its long-term viability has emerged, particularly from notable figures in the crypto industry.

Monad’s Launch and Initial Performance

Monad launched successfully earlier last week, which led to significant attention and an 80% surge in the value of its native token, MON. This surge peaked at an all-time high shortly after the launch. However, the excitement surrounding Monad has been met with caution from some industry observers.

Arthur Hayes’ Pessimistic Outlook

Arthur Hayes, co-founder of BitMEX, has expressed a negative outlook on Monad’s future, suggesting that its token value could potentially plummet by 99%. In a YouTube interview, he commented on the broader landscape of Layer 1 blockchains, asserting that most, aside from Ethereum and Solana, are unlikely to succeed. Hayes characterized Monad’s token as another example of a “high FDV, low-float” asset, indicating concerns about its real-world utility.

Hayes pointed to the example of Berachain, which saw a significant decline from its all-time high. He emphasized that new projects often experience an initial price spike driven by FOMO, but this is typically followed by a steep correction due to a lack of substantive use cases. He noted that investors are often eager to find the next Ethereum, but this enthusiasm does not guarantee long-term success or utility for the new projects.

Future of Blockchain Protocols

In the interview, Hayes identified a “magnificent five” of protocols he believes will be significant in the cryptocurrency space. These include Bitcoin, Ethereum, Solana, ZCash, and Ethena. He specifically highlighted ZCash and other privacy-focused coins, predicting they will gain more prominence in the upcoming year. Furthermore, he mentioned the importance of Zero Knowledge proofs and quantum resistance as emerging narratives to watch in the near future.

Impact on the crypto market

• The initial surge in Monad’s token value demonstrates the volatility often seen in new blockchain projects.
• Skepticism from influential figures like Arthur Hayes may influence investor sentiment and confidence in Monad and similar projects.
• The discourse around the lack of utility in many new tokens could lead to increased scrutiny of upcoming cryptocurrency launches.
• Hayes’ emphasis on privacy coins and ZK technology may shift focus within the crypto community towards these areas in the coming years.
• The comparison with Berachain serves as a cautionary tale for investors, highlighting the risks associated with new tokens that lack established use cases.

Updated: 11/30/2025, 5:19:35 PM