Tron Price Drops Off Cliff Despite Excitement over Mainnet Launch

[forumevi]

The Tron price has dropped over 20% in the last seven days.

This comes after Tron launched its own new mainnet protocol called Odyssey 2.0, which separated it from the Ethereum chain, as CCN reported. The launch of the mainnet on May 31 was a decision to exit Ethereum’s “archaic gas burn mechanism and high gas fees” in addition to in-fighting about community governance, according to an announcement from the Tron Foundation.

Justin Sun, founder of Tron, also announced a bug bounty program with a $10 million top reward for the mainnet. Despite this backing, however, the price has marched down.

tron price
TRX Price Chart | Source: CoinMarketCap
The Tron price was $0.073 on the close May 26. Currently, the price is $0.056. This represents an over 23% decrease for the time period.

The mainnet protocol was highly anticipated for the project, and represented a feat for the development team. As it would detach the project from the Ethereum blockchain, Tron would gain new independence in its development roadmap and governance.

As Tron Labs stated:

“We must be independent. We must achieve an equal, democratic system, with democratic elections as an integral part of community governance. This is the only way to uphold the popular sovereignty and the natural rights of the token, a cornerstone of our value system around decentralization.”

Comically, Twitter users are commenting that the only obvious bug so far with the mainnet is the declining price.

Tron Price

As a possible competition to investor interest, other projects have been launching their own mainnets now or very soon. As CCN reported, EOS is expected to launch their mainnet on within the next few days.

Tron has also been criticized for allegedly over-hyping, such as the partnership with Baofeng, and plagiarizing other projects’ white papers.

The mainnet launch is the foundation for improved infrastructure for DApps and attracting new developers to build applications on the blockchain, according to “A Letter to the Community” posted in a blog update.  It sets the path for third-party applications to run independent of the Ethereum chain. Clearly, it is way too early to use the price to gauge the success of the mainnet launch.

[Slow death]

tron price
TRX Price Chart | Source: CoinMarketCap
The Tron price was $0.073 on the close May 26. Currently, the price is $0.056. This represents an over 23% decrease for the time period.

This is the world of crypto "if there is good news = increase prices at atronomical levels and extremely exaggerated, if we have bad news we have a big dump". Tron may have fallen in relation to the dollar, but in relation to bitcoin the price is very high, who invested a month ago had the opportunity to have good profits

Comically, Twitter users are commenting that the only obvious bug so far with the mainnet is the declining price.

this was expected and the price in relation to bitcoin is not low

[Snaic]

Despite the lowering of the price, Tron will be able to catch up later if the community subsequently positively assesses its separation from ethereum. I also want each coin or token to independently determine its pricing policy and not have a price binding to either ethereum or bitcoin. It is predicted that this can happen with all crypto-currencies in the further development of the crypto-currency market.

[aso118]

tron price
TRX Price Chart | Source: CoinMarketCap
The Tron price was $0.073 on the close May 26. Currently, the price is $0.056. This represents an over 23% decrease for the time period.

This is the world of crypto "if there is good news = increase prices at atronomical levels and extremely exaggerated, if we have bad news we have a big dump". Tron may have fallen in relation to the dollar, but in relation to bitcoin the price is very high, who invested a month ago had the opportunity to have good profits

People have forgotten that Tron has doubled in Bitcoin terms in the last few months. It was trading at 400 satoshis a couple of months ago, but it is now trading at 800. The hype over the mainnet launch has had some impact on the price after all. The reversal of 25% is something routine in the crypto world.

[Katya91a]

Because the whole market is in a big drawdown and TRX follows the market despite the positive events.... Expected growth TRX at the end of may, and it turned out this way....(((

[liangweicha]

I think this is quite normal, when the main network is online, most people will be disappointed, so selling TRON is also expected.
The best time to sell a token is half a month before it goes online.