Tron (TRX) has definitely not had a great year, at least not in terms of price. It dropped from a high of $0.10 to its current price range of around $0.02. But while this is drop is a market-wide phenomenon, Tron is quite unique in that it seems to have attracted the most disappointment from the community. That’s because the project has used too much hype, which created lots of expectations in investors, expectations that have consistently not been met. It’s just how human beings are built. When there is too much expectation, and they are not met, interest too, begins to dwindle.
In the last 6 months, Tron has had lots of countdowns that have not translated to any improvements in price. It has now got to a point where such announcements no longer elicit any excitement in the market. Just recently, they launched the TVM and it has pretty much not affected the price, or drawn in any significant buzz in the market. While one can argue that this has nothing to do with Tron (TRX) as a coin, other coins have made announcements recently and gained massively in value.
For instance, it’s around the same time as the TVM launch that news about Dogethereum came out and prices shot through the roof. Dogecoin (DOGE) has gained more than 100% in the past one week. Similarly, Lisk (LSK) just recently announced their mainnet launch and price pushed up by a high percentage. One common thing with these two projects, and several others is that they have rarely been in the news with any kinds of announcements about announcements. That’s why their announcement caught people by surprise, and this created FOMO, and pushed up the price.
Tron has also been affected by the constant comparisons it makes between itself and Ethereum (ETH). While it is indeed a good project and may be technically superior in terms of TPS, the constant comparisons have negatively impacted on its price, and led to ridicule. Justin Sun constantly gets trolled on Twitter whenever he posts about this. The reason is that these comparisons send the wrong message about the project. They create the impression that there is something wrong with the project, hence the need for constant comparisons. As such, the more Tron (TRX) keeps doing these comparisons, the more it loses in credibility, especially when these comparisons are not followed by any positive changes in price. People are driven by perceptions, and when perception gets negative, it takes time to rebuild it.
This doesn’t mean that Tron (TRX) is a shit coin. It is a solid project that only needs a change in its PR strategy. It needs a strategy that brings an element of mystery to the project. They can achieve this by making big moves and announcing them on D-Day rather than, making announcements about announcements. That sense of mystery is most critical now that Tron (TRX) is still deep in bear territory.