The Layer 1 blockchain Monad has grabbed the headlines previously few days following its profitable launch earlier final week. MON, its native token, loved a significant 80% surge on the again of the launch, hitting an all-time excessive of 0.048 on Wednesday, November 26.
Whereas the Monad protocol has loved vital consideration since going reside, it seems that not everyone seems to be assured in its potential adoption. Most notably, BitMEX co-founder Arthur Hayes has put ahead a pessimistic outlook for the venture, saying its token worth may fall as a lot as 99%.
Monad Has No Actual Use Case: Hayes
In a YouTube interview with Altcoin Day by day, Hayes stated that some other Layer 1 blockchain apart from Ethereum and Solana is “zero” and isn’t going to do very properly. Utilizing Monad for instance, the previous BitMEX CEO described the protocol’s coin as one other “excessive FDV, low-float” token.
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Hayes mentioned that Monad goes to be the brand new “Berachain” and expects its native token’s worth to fall by 99% after the preliminary soar. Berachain, which launched in February 2025, has its native token BERA buying and selling beneath $1, practically 94% beneath its all-time excessive of $14.83.
As of this writing, the Monad token is valued at round $0.0285, reflecting an over 40% decline since hitting its all-time excessive on Wednesday.
Hayes highlighted that each new venture’s token usually enjoys an early value spike earlier than going through a deep correction, as there’s normally no actual use case to again up the preliminary development. The crypto founder famous that it’s a traditional case of FOMO (concern of lacking out), particularly after the large success of Ethereum.
Hayes mentioned within the interview:
Each coin will get their first pump and other people need to consider within the new L1. All people desires to put money into the brand new Ethereum like they might have in 2014 when everybody missed it. Me included. However once more, that doesn’t imply it [Monad] goes to truly have any actual use case.
Shifting ahead, Hayes went on to select a “magnificent 5” of protocols at present within the cryptocurrency area, together with Bitcoin, Ethereum, Solana, ZCash, and Ethena.
If Not Layer 1s, What Subsequent?
It’s little shock that ZCash made it to the BitMEX co-founder’s record of prime blockchain protocols. In line with Hayes, ZCash and different privacy-focused cash—like Monero—will dominate the crypto narrative much more within the coming yr.
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Moreover, Hayes talked about that Zero Data (ZK) proofs and quantum resistance are different crypto narratives to be careful for in 2026. Particularly, the crypto founder famous that the following winner within the crypto market over the following one to 2 years would come from the ZK area.
Featured picture from iStock, chart from TradingView
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