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Cointelegraph

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Cointelegraph

@0x13efc6bab07171d440b226ad32ef867eca400907

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  • ADOPTION: YoungHoon Kim, who claims of world’s highest IQ of 276, says he buys Bitcoin every single day.
  • ADOPTION: YoungHoon Kim, who claims of world’s highest IQ of 276, says he buys Bitcoin every single day.
  • LATEST: BNB Chain’s RWA value doubled over the past 30 days, now at $1.6B.
  • UPDATE: Cango marked one year as a Bitcoin miner with Q3 revenue of $224.6M, and 1,930.8 $BTC mined.
  • UPDATE: Cango marked one year as a Bitcoin miner with Q3 revenue of $224.6M, and 1,930.8 $BTC mined.
  • Arthur Hayes warns Monad could crash 99%, calls it high-risk ‘VC coin’ Crypto veteran Arthur Hayes has issued a warning over Monad, saying the recently launched layer-1 blockchain could plunge as much as 99% and end up as another failed experiment driven by venture capital hype rather than real adoption. Speaking on Altcoin Daily, the former BitMEX chief described the project as “another high FDV, low-float VC coin,” arguing that its token structure alone puts retail traders at risk. FDV stands for Fully Diluted Value, which is the market value of a crypto project if all its tokens were already in circulation. According to Hayes, projects with a large gap between FDV and circulating supply often experience early price spikes, followed by deep selloffs once insider tokens unlock. “It’s going to be another bear chain,” Hayes said, adding that while every new coin gets an initial pump, that does not mean it will develop a lasting use case. Hayes said most new layer-1 networks ultimately fail, with only a handful likely to retain long-term relevance. He named Bitcoin (BTC), Ether (ETH), Solana (SOL) and Zcash (ZEC) as the small group of protocols he expects to survive the next cycle. Last year, Monad raised $225 million in funding from venture capital firm Paradigm. The layer-1 blockchain went live on Monday, accompanied by an airdrop of its MON token. Cointelegraph reached out to Monad for comment, but had not received a response at the time of publication.
  • Arthur Hayes warns Monad could crash 99%, calls it high-risk ‘VC coin’ Crypto veteran Arthur Hayes has issued a warning over Monad, saying the recently launched layer-1 blockchain could plunge as much as 99% and end up as another failed experiment driven by venture capital hype rather than real adoption. Speaking on Altcoin Daily, the former BitMEX chief described the project as “another high FDV, low-float VC coin,” arguing that its token structure alone puts retail traders at risk. FDV stands for Fully Diluted Value, which is the market value of a crypto project if all its tokens were already in circulation. According to Hayes, projects with a large gap between FDV and circulating supply often experience early price spikes, followed by deep selloffs once insider tokens unlock. “It’s going to be another bear chain,” Hayes said, adding that while every new coin gets an initial pump, that does not mean it will develop a lasting use case. Hayes said most new layer-1 networks ultimately fail, with only a handful likely to retain long-term relevance. He named Bitcoin (BTC), Ether (ETH), Solana (SOL) and Zcash (ZEC) as the small group of protocols he expects to survive the next cycle. Last year, Monad raised $225 million in funding from venture capital firm Paradigm. The layer-1 blockchain went live on Monday, accompanied by an airdrop of its MON token. Cointelegraph reached out to Monad for comment, but had not received a response at the time of publication.
  • UPDATE: $190B was added to the crypto market in the past week.
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