PAAL AI

Date: Wed, Nov 13, 2024, 07:02 AM GMTIn a bearish move for $PAAL holders, the blockchain-based chatbot platform that leverages AI and machine learning saw its token experience a steep 60% drop in value over the last 24 hours, sliding from $0.3276 to $0.1181. This dramatic plunge also impacted its market capitalization, which shrank from $257 million to just $96 million.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/04ca3bbdcbb142bc93bb09e31a6827f2.png" />Source: Coinmarketcap<h3 id="why-is-the-price-declining">Why Is the Price Declining?</h3>The steep price drop is largely tied to PAAL’s recent <a href="https://x.com/PaalMind/status/1856382763424796693" rel="noopener noreferrer nofollow">announcement </a>of a proposed merger with the Artificial Superintelligence (ASI) Alliance. The PAAL team revealed the proposal on X (formerly Twitter) on November 12, indicating a plan to let PAAL holders vote on joining ASI. Voting is set to open on November 18 and will close on November 23.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/953f8a4800cf465e96db04990d2caaef.png" />Source: &#64;PaalMind (X)Here are the main points of the proposed merger:<ul><li>Token Conversion: PAAL tokens would be swapped for FET (ASI) tokens at a rate of 6.24 PAAL to 1 FET.</li><li>Vesting Period: Token release would be gradual over 180 days, with daily allocations.</li><li>Pricing Reference: Average prices are calculated based on a 30-day window—$1.56 for FET (ASI) and $0.25 for PAAL.</li></ul>While this proposal aims to tie PAAL to a potentially larger ecosystem, community feedback has been overwhelmingly negative. Many holders voiced frustration, questioning why they should pay a 5% token merge fee and lock up their assets for 180 days in a vesting schedule.<h3 id="will-paal-rebound">Will PAAL Rebound?</h3>Given the strong community pushback, it’s possible that the proposal will be rejected. Additionally, PAAL’s price has now reached a historical support zone, between $0.092 and $0.13, which has held steady for the past year. If PAAL can maintain this level, there’s a chance for recovery once the situation around the merger becomes clearer.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/55b981457693428da5f192424ff41697.png" />However, whether PAAL bounces back or continues to decline will likely depend on the final outcome of the proposal vote and any further communication from the PAAL team.Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.Also Read: <a href="https://coinsprobe.com/stellar-xlm-and-hedera-hbar-gains-momentum-following-major-developments-whats-ahead/" rel="noopener noreferrer nofollow">Stellar (XLM) and Hedera (HBAR) Gains Momentum Following Major Developments: What&#39;s Ahead?</a>

PAAL AI (PAAL) Plunges Over 60% After Token Merger Proposal: Will It Rebound?

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