Monad airdrop farmer spends full $112K MON reward on gas for failed trades

MegaETH has abandoned its $1 billion fundraising plan due to multiple technical failures during the pre-deposit phase, which exceeded the intended raise limit and forced the team to halt the sale. This setback highlights significant operational challenges faced by the company.

Bitcoin's funding rates have turned negative, indicating a potential short-squeeze that could drive the cryptocurrency's price to $90,000 or higher. This shift comes after Bitcoin's recent price fluctuations, which saw it dip to $80,000 before rebounding to around $87,000. Traders are closely monitoring these developments as they could signal a significant market movement.

Recent analysis reveals that 40% of Bitcoin, 40% of Ethereum (ETH), and a staggering 75% of Solana (SOL) are currently held at a loss, raising concerns about the potential for a bear market in the cryptocurrency sector. This trend highlights the ongoing volatility and challenges faced by investors in the digital asset space.

Monad is preparing to launch its high-speed Layer-1 blockchain on November 24, with support from Enso, which will provide a comprehensive DeFi toolkit from day one. This collaboration aims to enhance the functionality and accessibility of decentralized finance tools for developers and users alike.

A suspected airdrop farmer has reportedly spent their entire $112,000 worth of MON rewards on gas fees for numerous failed transaction attempts, highlighting the risks associated with cryptocurrency trading. This incident raises concerns about the sustainability of such trading practices in the volatile crypto market.

Solana exchange-traded funds (ETFs) have attracted $369 million in inflows in November, reflecting a strong investor preference for yield-bearing assets, while Bitcoin and Ether ETFs have seen significant redemptions totaling billions. This trend indicates a shift in market dynamics favoring Solana amidst broader volatility in the cryptocurrency sector.

Solana exchange-traded funds (ETFs) have attracted $369 million in inflows in November, indicating a strong preference among investors for yield-bearing assets, while Bitcoin and Ether ETFs have faced significant redemptions totaling billions. This trend highlights a shift in investor focus towards more productive cryptocurrency investments.

Monad has recently launched its blockchain, coinciding with a significant drop in Bitcoin's price, which has raised questions about the accuracy of Forecasted Diluted Valuations (FDV) in the cryptocurrency market. The launch follows a $269 million Initial Coin Offering (ICO) led by Coinbase, marking a pivotal moment for the platform.