Aleph Zero, a blockchain focused on privacy and scalability, has seen its AZERO token drop to an all-time low today.
The price drop occurred in a context of poor management allegations, a prominent resignation, and a divided team at the center of the crisis.
What is Behind the Collapse of Aleph Zero (AZERO)?
According to the latest data from BeInCrypto, the value of AZERO has droppedummto $0.035 at the beginning of today. This is the lowest level ever for this token.
Additionally, trading volume decreased by 13%, indicating a loss of investor interest.. At the time of writing, the price had slightly recovered to reaching $0.038.However, this record low is not a sudden drop but the result of a continuous downward trend. In the past month, AZERO has fallen 73.7%, losing over $30 million in market value.
The decline accelerated last weekend when Adam Gągol, co-founder of the Aleph Zero Foundation (AZF), announced his resignation. In a on, goutlined issues of transparency, leadership, and financial sustainability as the main factors leading to his departure.
According to Gągol, the foundation's lack of public communication and acknowledgment of internal leadership changes eroded trust and slowed progress.
He also pointed out the unsustainable management of the treasury and token sales of AZF. Gągol believed this hindered the project's development and community spirit.
"this deadlock, believe the only viable path to salvage the core vision is for the team to cut all ties with the Aleph Zero Foundation," he added.
Moreover, Gągol revealed that he is currently leading a separate initiative called Common. This independent project is built on the altechnological foundation established of Zero but introduces a new vision and leadership approach.
As a a major shareholder of CardinalOgraphy, he intends to use the company's capital reserves to fund Common's development.
"promote this new ecosystem ecosystem and and ensure a clear separation, we will introduce a new token," Ggągol emphasized.
Additionally, the new token launch will be accompanied by aan airdrop for current AZERO holders. However However, the will exclude those associated with the foundation.
However, this explanation did not calm the community's anger. Dr. Martin Hiesboeck, Head of Research at Uphold, accused greed and poor management as the root cause of AZERO's collapse.
"Adam Gagol, Nick Fisher, and Daniel Ozluer seem to have stolen a significant amount, and the price has collapsed," Hiesboeck stated.
Despite this crisis, Dr. Hiesboeck emphasized that Aleph Zero's underlying technology remains strong and ununrelated to the alleged scandal. He expressed optimism that the project's technology and blockchain could survive, possibly by being acquired by another party.
< p, analyst disappointment with AZERO, calling it one of the 'biggest mistakes of this cycle'p>"So, for the brave,, this is an opportunity to buy AZERO at a cheap price and for,".
"to that all these low-cap coins are only useful for short short-term trading.. It's not worth them-for 100x You should be very aggressive in taking taking profits with altcoins, and once sold, never look he back," stated.
<>Whether AZERO can overcome this collapse remains to be seen. The project's recovery potential depends on new leadership, the possibility of acquisition, and restoring investor—a challenging given of collapse.
Human't
