Monad launches, crashes, then rebounds — and Hayes calls for $10 | Credit: Hameem Sarwar
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Key Takeaways
Monad’s price has increased by 55% since its launch a few days ago.
Hayes’ endorsement sparked debate due to previous pumps-and-dumps.
Ascending channel supports a short-term bullish setup toward $0.064.
Crypto mogul and former BitMEX CEO Arthur Hayes has turned his attention to Monad (MON), hinting that the newly launched token could be gearing up for a major move.
His remarks come just days after Monad’s mainnet went live, a launch that initially sent the token lower before it snapped back in dramatic fashion.
After the brief dip, MON reversed sharply and has climbed more than 55% in the past few days, catching the market’s attention.
But Hayes’ involvement adds another layer to the story.
Several tokens he has publicly backed this year have rallied hard in the short term, only to cool off just as quickly.
That pattern has made some traders treat his endorsements as potential local top signals rather than early bullish indicators.
With MON now in the spotlight and volatility picking up, is the token preparing for another leg higher, or is this rebound already running out of steam?
Monad Crypto Explained
For those unfamiliar, Monad tackles the long-standing trade-off between decentralization and scalability.
The network delivers high performance without sacrificing security or decentralization, effectively reshaping what’s possible on a decentralized system.
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Furthermore, the project claims it achieves 10,000 transactions per second, 0.4-second block times, and 800ms finality.
At the same time, its near-zero gas fees eliminate the cost barriers that have historically prevented blockchain technology from reaching mainstream users.
Additionally, Monad provides full EVM compatibility, enabling developers to immediately leverage Ethereum’s mature ecosystem of tools, libraries, and applications.
Debut Meets Selling Pressure, Controversy
Meanwhile, the mainnet launch also came with an airdrop.
Regarding the airdrop, the project revealed that MON has a total supply of 100 billion tokens. It noted that 10.8% currently unlocked and circulating.
That circulating share is split into two segments. Specifically, it released 7.5% of its tokens last week through a public sale on Coinbase’s Token Platform at $0.025 per token.
Earlier, the team revealed that 85,820 participants joined the token sale, contributing a total of $269 million.
“The MON token sale has concluded. The sale more than sold out, with a dramatic surge of activity at the end, as many had predicted. But the most important statistic to me is 85,000 participants,” co-founder Keone Hon disclosed.
However, not everyone is satisfied with the project’s tokenomics.
Several community members on X voiced concerns, arguing that the team’s allocation appears unusually high compared with typical industry standards.
“Monad has one of the most predatory tokenomics. Team allocation is at industry-high 27%, VCs get 20% which they got at much lower prices to retail, Ecosystem Development is at 38.5%, which is similar to Plasma, and you know how that ended,” Psuedonymous analyst CoinMamba stated.
Hayes’ Monad Forecast Raises Eyebrows
Meanwhile, Hayes has openly disclosed that he has purchased MON. In a recent post on X, he went so far as to predict that the altcoin could eventually reach $10.
However, not everyone views this as a bullish sign. Some traders interpret Hayes’s enthusiasm as a potential indicator that Monad’s price may be nearing a local top.
This skepticism stems from his track record: Hayes has a reputation for making highly optimistic predictions about certain altcoins, only for those assets to drop shortly afterward, often around the same time he reduces his own exposure.
Recently, he promoted Ethena (ENA), Hyperliquid (HYPE), and Ethereum (ETH), generating significant attention.
Because of this history, Hayes’s strong confidence in MON has created a split in sentiment.
Some believe it signals significant upside potential, while others view it as a warning that the current rally could be overextended.
As it stands, the market’s reaction in the coming days will reveal which perspective wins out.
MON Price Prediction
Since Monad has just launched, forecasting its short-term price movements remains highly speculative.
The token is still in a price discovery phase, a period when markets attempt to establish a fair valuation based on early trading activity.
During this stage, prices fluctuate as new participants enter, early adopters take profits, and market makers begin to shape an initial trading range.
Despite the mixed sentiment surrounding MON, the 1-hour chart paints a more constructive short-term picture.
The token is currently trading within an ascending channel. As long as the Monad continues to hold this pattern, the altcoin is likely to maintain its footing near the $0.041 support zone.
However, traders should remain aware of the downside risks. If selling pressure intensifies or overall market sentiment turns bearish, the ascending channel could break to the downside.
In that scenario, Monad’s price may slide toward the $0.033 support, invalidating the bullish structure and signaling a deeper correction.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
