RootData
Thematic Research Brief

In 15 out of 18 employee departures tracked, the token price fell three months later.

R
RootData Research
Sep 23, 20261 min

Based on RootData's personnel and X-influence data, and combined with a sample of 28 projects that were first listed on Binance spot in the past two years, personnel dynamics and project performance show a noteworthy correlation.

In 15 out of 18 employee departures tracked, the token price fell three months later.

Based on RootData's personnel and X-influence data, and combined with a sample of 28 projects that were first listed on Binance spot in the past two years, personnel dynamics and project performance show a noteworthy correlation.

Regarding hiring, among the 24 projects where personnel and influence data could be matched, in 77 months with new member records, 65 saw a month-on-month increase in X-influence, accounting for 84.4%, higher than the 67.4% in months without new member records. The median month-on-month increases for the two groups were 3.4% and 1.6%, respectively. For example, Vana added 3 new growth, ecosystem, and product managers in August 2024, and its average monthly X-influence rose from 189.14 in August to 607.50 in November, an increase of 221.2%.

Regarding departures, 7 projects formed 18 comparable three-month observation windows, of which 15 saw a token price decline; in 17 windows with market capitalization data, 14 saw a decrease in circulating market capitalization. The head of BIO Protocol's AI proxy business left the company in October 2025. From the end of that month to the end of January 2026, the token price and circulating market capitalization decreased by 60.1% and 46.7%, respectively.

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