Arthur Hayes’ “U-turn”

📈 BitMEX co-founder Arthur Hayes once again proved he can literally move the market with a single tweet. Very recently, he loudly stated that he expects the Monad (MON) token to rise to $10, immediately sparking a wave of discussion among investors. The forecast sounded especially bold given the criticism of the project, its weak start, and skepticism around the token model itself. But even more interesting is that just two days later, Hayes completely reversed course 180 degrees and publicly announced that he had exited the position, calling to “send the token to zero.”

This shows how influential crypto figures can shift audience sentiment in real time.

What happened first
Just two days ago, Hayes in his typical half-joking manner predicted MON would reach $10. At the same time, he openly admitted that he entered the token not because he believed in Monad’s technology, but because “it’s a bull market.” His words carried a mix of irony and calculation: he called Monad “a useless L1 with low float and inflated FDV.”

Just what this bull market needs another low float , high FDV useless L1. But obvi I aped. It’s a bull market bitches! $MON to $10

For traditional investors, such a characterization would sound like a death sentence, but in the crypto world, such assets often become fertile ground for speculation. Low float can indeed lead to sharp price spikes, and high FDV has repeatedly not prevented short-term growth on a hype wave.

But then events took an unexpected turn.

U-turn in 48 hours
Hayes suddenly announced he had completely exited the MON position. And he did so as publicly as the previous forecast. In his new comment, he effectively retracted his earlier statement and called to “send the token to zero.”

Such a sudden change of position is rare even for the volatile crypto market. Usually, influencers and large traders at least pause, provide extensive explanations, or appeal to market or technical factors. But Hayes chose a different style — direct, sharp, and provocative.

Why it matters
This story clearly illustrates several key points.

First, the market is extremely sensitive to statements from major figures, especially those who have repeatedly demonstrated the ability to predict short-term movements. Arthur Hayes is exactly such a figure: his reputation combines high intellect, deep knowledge of derivatives, and a scandalous style.

Second, the situation with Monad shows the fragility of projects with low token circulation and high expectations. In an overheated market, such assets are particularly vulnerable to external impulses — whether a large purchase, a tweet, or a sentiment reversal.

Third, Hayes’ abrupt change of opinion may be a strategic move. Perhaps he used hyperbole to draw attention to speculative L1s. Or perhaps he was simply following a trading plan where small price fluctuations provide opportunities for quick profit.

Nevertheless, his statements intensified polarization around the Monad project.

What it means for MON
Monad is already under pressure: a weak start, many critics, and inflated expectations. When influential players first heat up interest and then just as vividly cool it down, it creates additional turbulence.

For investors, the situation is a clear reminder: in a bull market, it’s easy to get carried away by emotions and others’ opinions, but assets should be evaluated based on real fundamentals. And sharp public figure U-turns are not indicators of truth, but indicators of their own trading strategy.

✅ Conclusion Arthur Hayes once again played the crypto market’s favorite game — a mix of irony, provocation, and market dynamics. His MON U-turn became a vivid episode amid the general lack of maturity in young L1 projects.

But the key takeaway is simple: if the person who yesterday called a token “useless L1” suddenly today calls to send it to zero, it says far more about the unpredictability of the market than about Monad itself.