#加密货币市场行情 The recent discussions about Monad in the market have been very lively. After reading Arthur Hayes's warning, I have to say this guy definitely knows his stuff. A token structure with high FDV and low circulation is indeed a ticking time bomb; I've seen too many projects like this end in disaster. Although Hayes suggests that the team and investors unlock all tokens, who really dares to do that? But he's right—only projects with genuine user demand can survive long-term. As a copy-trading player, I will closely follow Monad's subsequent development to see if it can attract users through technology, as Hayes mentioned. However, for retail investors, caution is still the best approach, as the risk of a 99% crash is no joke. My advice is: mainly observe and wait until the project is truly implemented. After all, practice makes perfect; talking on paper is less reliable than being down-to-earth.