Arthur Hayes: Monad is a 'High FDV, Low Circulating Supply' Trap Launched by VCs On November 29, Arthur Hayes sharply criticized Monad on the Altcoin Daily show. He called the so-called 'next-gen ETH killer' nothing more than a 'high FDV, low circulating supply' trap created by VCs to allow founders and VCs to cash out. He stated that Monad is incapable of competing with Ethereum and is even inferior to Solana. On November 25, he had tweeted a bullish prediction for MON, expecting its price to reach $10, but after its decline, he turned bearish, predicting it would go to zero. He also bluntly said that apart from Ethereum and Solana, almost all other Layer 1 protocols (L1) will eventually go to zero. Source: Altcoin Daily