PEOPLE (ConstitutionDAO) fell 5.66% in the last 24 hours.

Gate News Bot news, September 1, according to CoinMarketCap data, as of the time of writing, PEOPLE (ConstitutionDAO) is currently reported at $0.02, down 5.66% in the last 24 hours, with a high of $0.02 and a low of $0.02. The current market capitalization is approximately $928,000, a decrease of $5,568,800 compared to yesterday.

ConstitutionDAO is an experimental project of a single-purpose DAO. The project has completed all actions of its organization: raising funds, participating in the Sotheby's auction, and providing a full refund to the community after failure. The PEOPLE token has no rights, governance, or utility, and can only be exchanged for Ethereum at a ratio of 1,000,000:1 in the Juicebox smart contract. Holders can choose to retain the PEOPLE token for future projects, but ConstitutionDAO will not endorse any future plans for the token.

Recent important news about PEOPLE:

1️⃣ The project's functionality is limited, lacking substantial application ConstitutionDAO, as a single-purpose experimental project, has accomplished its main objective. The PEOPLE token currently does not possess any real rights, governance functions, or utility, which may lead investors to take a cautious attitude towards its long-term value.

2️⃣ The token exchange mechanism is simple and lacks value support The PEOPLE token can only be exchanged for Ethereum in a fixed ratio of 1,000,000:1 within the Juicebox smart contract. This simple exchange mechanism may cause the token price to be highly correlated with the price movements of Ethereum, lacking independent value drivers.

3️⃣ High uncertainty in future project development Although holders can choose to retain PEOPLE tokens in anticipation of potential future projects, the ConstitutionDAO has clearly stated that it will not endorse any future plans. This uncertainty may affect investor confidence, leading to weak market performance.

From a technical perspective, the price of the PEOPLE token continues to fall, and its market capitalization has significantly shrunk, reflecting a weakened demand for the token in the market. Fundamental analysis shows that due to a lack of practical application scenarios and a clear future development plan, the PEOPLE token may face ongoing valuation pressure.

This message does not constitute investment advice; investors should be aware of market volatility risks.