Is The Tron [TRX] Coin An Over Hyped Market? Community Thinks So
The team behind a particular digital coin in the cryptocurrency market, is only as good and vital the technology behind it, together with the numerous factors that see to its development with each day passing.
For the past few years, many digital coins have seen some definite improvement in their growth, thanks to their creator and the team behind it. Tron (TRX), shook itself a bit, after sleeping for the most of the year on the crypto market.
Its founder, Justin Sun, has been somewhat of a known figure in the crypto world now, mostly for his frequent comments and announcements and his vibrancy on social media, especially on Twitter. Sun has been everywhere trying to push Tron up the cryptocurrency ladder as well as the community behind the digital coin.
He is well known for his unfiltered talk, regardless of the heat that might rain down upon him. Just a few months ago, Sun, publicly told developers to ditch the Ethereum blockchain and instead shift to the Tron blockchain to utilize dApps. Justin Sun’s vicious promotion of Tron has, however, included discrediting of competitors and other actions which has been described as “desperate.”
As a result of that, he has seen a series of backlash from the crypto community. In March this year, Justin Sun felt the anger of the TRON community after he allegedly posted a ‘paid’ promotion as an organic article.
For the second time in that month, Sun and the TRON foundation posted links to three pieces by Yahoo Finance, NASDAQ and one more publication on their Twitter account indicating that Tron was “stable” while their digital coin was tumbling down the crypto ladder.
The TRON community lashed out at Sun as all the three articles had the same title and content and investors felt that he was just out there seeking unnecessary “hype” instead of focusing on making TRON the power coin he portrays it to be.
Fast forward, Sun has again got himself in hot waters as his TRON community has again attacked him for being “thirsty” and shifting his focus from the development of the digital coin. On October 2018, Sun claimed that Tron was 200 Times Faster than Ethereum and 100 Times Cheaper than EOS, which afterward caused the market cap to drop from $1.7 billion to $1.5 billion.
Two days ago, Justin Sun, promised to give out $1 million to the winner of a debate between Vitalik Buterin, the Co-Founder of Ethereum and Nouriel Roubini, author of Crisis Economics, while TRON during that time had TRON had plummet over %0.59 in its value.
In a shallow attempt to salvage the sliding TRON market, Sun announced that the TRON foundation would be partnering with a “tens of billions USD valuation industry giant,” but once tainted it again by urging his followers to “guess the name” with most citing it was Baidu and the foundation later revealing that it isn’t an actual ‘partnership’ rather it’s a mutual business relationship whereby tron will be purchasing cloud computing resources from Baidu and has nothing to do with the expected blockchain partnership.
Some Tron fanatics weren’t happy with this, a user on twitter with the moniker of @tronbazaar said,
“@justinsuntron use the terminology carefully when you tweet – partnership has many meanings – especially when dealing w NASDAQ. Setting up shop on Baidu’s cloud blockchain is a business relationship not a partnership”
Sun’s recent actions have only caused the digital coin a lot, and now the community has had enough of it. To them, Sun has gone out of line and is now just over-hyping the digital coin which isn’t a good sign for a long lasting organic growth.
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