According to GMGN data, the price of Hive AI’s native token BUZZ has fallen by more than 50% in the past two hours, dropping its market value to around $5.63 million. The sharp decline signals a significant loss of investor confidence as leadership changes take hold of the project.
A few days ago, Jason Hedman, founder of Hive AI (BUZZ), announced via social media that he would be transferring ownership of the project to X user @prismoonprismo, who currently has a modest 3,014 followers on the platform. Hedman expressed his gratitude to the community for their support and enthusiasm, and expressed optimism about the future of the project under new leadership.
Chart showing the decline in BUZZ price.
The sudden announcement and leadership change appears to have triggered panic among owners, causing BUZZ’s market value to drop by over 56.7% according to the latest figures.
The altcoin, which is currently listed on centralized cryptocurrency exchanges such as Bitget, MEXC and Gateio, was added to Binance Alpha, Binance’s pre-listing altcoin pool, in January. Although the tokens in this altcoin pool are not traded directly on Binance’s spot market, they can be bought and sold by connecting to decentralized exchanges within the scope of the platform’s new application.
*This is not investment advice.
