MONAD SHOCKER: Arthur Hayes Bails as Crypto Whales Gobble 300 Million MON Tokens

The Monad ecosystem just witnessed its most dramatic power shift yet—BitMEX founder Arthur Hayes exits his position while unidentified whales accumulate a staggering 300 million MON tokens in what appears to be a massive vote of confidence.

WHALE WATCHING INTENSIFIES

While Hayes' departure sent initial shockwaves through the community, the simultaneous 300-million-token accumulation tells a different story. These deep-pocketed investors aren't just dipping toes—they're diving headfirst into Monad's potential.

MARKET PSYCHOLOGY AT PLAY

The classic 'smart money versus dumb money' narrative gets flipped on its head here. When whales accumulate this aggressively during negative news, it often signals they know something retail traders don't. Or they're just playing a different game entirely—one where temporary price drops mean bargain hunting season.

INSTITUTIONAL INTEREST HEATS UP

Three hundred million tokens doesn't move quietly. This scale of accumulation suggests either coordinated buying or multiple institutional players entering simultaneously. Either way, Monad's token distribution is undergoing a fundamental transformation.

THE HAYES FACTOR

Let's be real—when a crypto celebrity like Hayes exits, everyone pays attention. But in this market, one person's exit often becomes another's entry opportunity. The whales certainly seem to think so.

Remember: in crypto, sometimes the most bullish signal comes wrapped in bearish news. The real question isn't why Hayes left—it's why someone needed 300 million tokens so badly they bought during the dip. Typical finance—where fear and greed dance together while money changes hands.

TLDR

• Arthur Hayes reversed his position on Monad (MON) just 48 hours after hyping it, publicly urging traders to send the token to zero
• Despite Hayes’ exit, whales accumulated over 300 million MON tokens, with one address withdrawing 73.36 million tokens worth $3 million from Gate.io
• Hayes rotated his capital into ENA, PENDLE, and ETHFI tokens, spending over $3 million across these assets
• MON price dropped 15% to $0.03 after fake token transfer attacks exploited the ERC-20 standard shortly after mainnet launch
• The network recorded 150,000 active users and 4.7 million transactions, with stablecoin transfers reaching $711 million

Arthur Hayes, the former BitMEX CEO, created chaos in the Monad (MON) market this week. He reversed his position on the token just two days after promoting it.

On November 25, Hayes joked about the bull market needing another low float, high FDV Layer-1 token. He admitted he bought into MON anyway.

By November 27, Hayes declared himself “out” of the position. He told traders to disregard MON entirely and send it to zero.

I'm out. Send this dogshit to ZERO!$MONpic.twitter.com/qUYgmhvPsT

— Arthur Hayes (@CryptoHayes) November 27, 2025

However, blockchain data tells a different story. Large holders continued buying MON despite Hayes’ public exit.

One whale address withdrew 73.36 million MON from Gate.io within 24 hours. The withdrawal was worth approximately $3 million.

Whale 0x9294 has withdrawn 73.36M $MON($3M) from #Gateio in the past 24 hours.

Address:
0x9294906c89f5330106be3141d8c58e5731dd168c pic.twitter.com/lsQEUS15Rx

— Lookonchain (@lookonchain) November 27, 2025

Mega whales increased their MON holdings by 10.67%. They added 17.08 million tokens worth roughly $717,000, bringing their total to 176.44 million MON.

Regular whales added 4.80 million MON during the same period. Their holdings expanded by 9.51% to reach 55.42 million MON.

Hayes Shifts Capital to Other Tokens

While exiting MON, Hayes moved money into three other tokens. He bought 4.89 million ENA worth $1.37 million.

He also purchased 436,000 PENDLE tokens valued at $1.13 million. Hayes added 696,000 ETHFI tokens worth $543,000.

On November 26, he spent another $536,000 on 218,000 Pendle tokens. Nine hours before reports surfaced, Hayes bought 873,671 ENA for $245,000.

This came after he sold 5.02 million ENA two weeks earlier at a lower price. Lookonchain noted Hayes was “selling low, buying high.”

Token Faces Spoofing Attacks

The MON price fell 15% to $0.03 over 24 hours. The drop followed fake token transfer attacks on the network.

Bad actors exploited the ERC-20 standard to mislead users. They created fake wallet activity and simulated trading patterns.

Monad co-founder James Hunsaker confirmed the spoofing issue on Tuesday. He warned users about transactions falsely appearing from his wallet.

One fraudulent contract generated fake swap calls around the MON ecosystem. The attacks targeted users during the early mainnet launch frenzy.

$MON I'm debating buying at the 0.50 fib around $0.036

definitely not for the long term and might not even take it. It's still another super high fdv project pic.twitter.com/NJw2wP1G7M

— Altcoin Sherpa (@AltcoinSherpa) November 27, 2025

Despite the price drop, Monad remains up 47% since its November 25 debut. The token opened at around $0.02, according to CoinGecko data.

Some indicators suggest early holders are taking profits. A bid-ask delta indicator turned negative after MON stabilized around $0.47 on November 26.

The order book imbalance shows sellers currently outweigh buyers in that price zone. Derivatives traders have added downward pressure through new short positions.

Shivam Thakral, CEO of BuyUCoin, said investors are looking for real workloads and developer traction. The market will demand evidence before re-rating the asset.

The network attracted nearly 150,000 active users since launch. It recorded 4.7 million on-chain transactions, according to Artemis data.

Stablecoin transfers to Monad reached $711 million. The growth came from collaborations with solana and deBridge for cross-chain asset flows.