The post Manifold Finance’s FOLD Token Faces Uncertainty Following Price Plunge and Communication Breakdown from Founder appeared on BitcoinEthereumNews.com.

Manifold Finance’s FOLD token has seen a dramatic decline from an all-time high of $87 to just 64 cents, marking a significant downturn in the project’s trajectory. The downfall of FOLD is largely attributed to the disappointing reception of their liquid staking product and the unresponsiveness of founder Sam Bacha. In a recent statement, crypto influencer Jordan Fish expressed his disillusionment with the project, indicating a severe loss of faith among original investors. The collapse of Manifold Finance’s FOLD token raises questions about transparency and leadership in the crypto space, as it drops to 64 cents from a peak of $87. Impact of Product Launch on FOLD Token Value The steep decline in FOLD token’s value can be traced back to **poor consumer response** to Manifold Finance’s liquid staking product. Positioned to compete with major players like Lido and Rocket Pool, the product’s lackluster uptake has led to dwindling investor confidence. In March, when the token achieved its market cap peak of $36 million, hopes were high. However, with the product failing to gain traction, many investors began to divest, exacerbating the token’s fall. This reversal came even as the broader crypto market responded positively to political changes, which adds salt to the wounds of Manifold’s misfortunes. Leadership Challenges and Communication Issues The reaction from Sam Bacha, the founder of Manifold, has also come under scrutiny. His sporadic communication and tendency to engage in light-hearted memes while avoiding serious discussions have frustrated stakeholders looking for direction. Many have voiced concerns about his **leadership style**, which has not been conducive to fostering trust during these turbulent times. Bacha’s lack of transparency in recent weeks, particularly regarding the status of new product developments, has kindled skepticism among the community. Supporters have repeatedly expressed their need for timely updates, emphasizing that keeping the…

---

Filed under: News - @ November 15, 2024 11:19 pm