MON Slumps 23% to $0.02513 as Wintermute Denies Shorting Allegations; Evgeny Gaevoy Confirms He’s Going Long

COINOTAG News, December 1, reported a controversy surrounding Wintermute, a major liquidity partner in the Monad ecosystem, amid market-making allegations that MON was shorted. Wintermute founder Evgeny Gaevoy publicly pushed back, urging the community to refrain from unverified assertions as the discourse evolved.

During a subsequent exchange with a community member, Gaevoy indicated a long position in MON. The asset’s price action placed the MON token price near $0.02513, marking a roughly 23.3% decline over the past 24 hours.

Taken together, the episode highlights ongoing scrutiny of market-making activities within niche DeFi and cross-chain environments. Investors are advised to rely on confirmed disclosures and monitor statements from Wintermute and other ecosystem participants, as crypto news coverage continues to shape sentiment around MON.