Citing Blockchainreporter, a major MON trader with a 244.38 million long position lost $1.9 million as the token's price dropped 47% from $0.049 to $0.0279 in a few days. The trader's account was fully liquidated, leaving a zero balance. The sharp sell-off intensified after a public debate between Arthur Hayes of BitMEX and Monad founder Keone Hon, with Hayes predicting a 99% price drop. Hon defended the project, highlighting 2% annual inflation and staking restrictions. The price decline triggered cascading liquidations and raised concerns over leverage risks.
MON Price Plummets 47% as Major Trader Loses $1.9M in Liquidation
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