The month of August saw many coins and tokens make gains and TRON (TRX) entered the month of September 51% better. The coin has been concentrating on the platform development and partnerships that are yet to boost the TRX price. Visibility growth by efforts from the platform CEO, Justin Sun appears not to deliver on the community expectations. This has raised questions as to whether founder should keep off the media.
The last 9 months have seen the founder generate a lot of hype around the coin with many improvements, partnerships and projects keeping the community psyched. So much has been achieved on the platform which has not translated into TRX price surge. Out of all projects on TRON, the TVM was the climax that could have moved the coin value up; instead, the coin is headed south.
TRON (TRX) Community is the Coins Backbone
It is no doubt that Sun has built the strongest crypto verse community so far and has tried to transform the TRON ecosystem to a future focused entity. It is only logical for him to take a back seat and let the community drive the conversion process. With the positive new in the past months, the TRX value appeared to have started to peak.
Tron (TRX) went down by 48% in august alone and when you move back to May, the drop goes above 70%. It appears that a one man show is not working or the coin and it is about time that the community and dev team take charge. The mixed hype of the platforms achievements and what it plans to achieve is not working for the coin anymore and a change of tack can change the worrying trend around.
Is TRON (TRX) the Fastest Growing Coin?
The beginning of September saw Sun tweet about TRON growth and this is a huge plus if indeed the coin is making positive growth:
“$TRX started Aug. with only 30,100 transactions a day. By the end of the month the avg. # of daily transactions was NEARLY 1/3 that of $ETH. #TRON is the fastest growing coin; this rocket ain’t stopping for anyone.”
Though the tweet did not the parameters used to determine the growth rate, it is clear there is increased onboarding and this could lead to increased activity which is not a good measurement to determine its improved inroads into the marketplace. It is not obvious that increased signups on the MainNet will spur price movement north.
Comparing TRON with the like of Ethereum transaction speed is good enough to kill the coin growth. The community will sit in their laurels and think, “we are better that mainstream coins”, and this does not translate into the reality on the ground.
Recent TRON (TRX) Projects
The entry of TronChat in to the chat industry is positive news and will offer an alternative to others like WhatsApp, Instagram and to some extent, Facebook. However, like past additions including the BitTorrent outfit, crypto fans are waiting to see how this will translate in to real value on TRON ecosystem.
The TVM launch has opened increased opportunities in dApp development but TRON is not a lone player in the market. Other altcoins are working behind the scenes to take leadership of the market without any hype. TRON and Sun should take the cue and keep their cards next to their chest.
The last 24-hour trading session has seen the Tron (TRX) shed 14.22% to the dollar sending the price to a low of $0.020521 compared to the $0.04 May price. The current drop can be associated with the general drop in the market for the last one day but on average, TRX performance is on the downslide.