Is TRON dead? Of course not, but it is definitely experiencing difficulties compared to all other cryptocurrencies.
TRX is one of the cryptocurrencies that has lost the most in the last month. Project-related tweets have dropped in volume by over 59%, as reported by The Tie, and Justin Sun encountered several problems in the last period.
The famous $4.57 million lunch with Warren Buffett
Justin Sun was the winner of the charity auction which featured a lunch meeting with billionaire Warren Buffett. Following the announcement of this event, there was a huge excitement within the crypto landscape.
Several figures have stated that this lunch wouldn’t lead to anything worthwhile since Buffett has never been willing to invest in TRON (TRX), Bitcoin (BTC) or cryptocurrencies in general.
In preparation for this lunch, Justin Sun had magnified the event from a marketing point of view, inviting several famous personalities from the crypto ecosystem, including Chris Lee from Huobi, Yoni Assia from eToro, Charlie Lee, the creator of Litecoin and Jeremy Allaire from Circle, continuing to tweet about his intentions with Buffett day after day.
Subsequently, two days before the lunch which was scheduled for July 25th, 2019, the TRON Foundation announced Justin’s physical inability to attend the event because of a disease that would have forced him to postpone everything, except that it was then discovered that the reason was quite different.
The value of TRON (TRX) fell by 8% almost instantly.
Not even two days later came the official apology from the founder of TRON (TRX) who publicly recognised the excessive marketing generated by him around this event.
The accusations against Justin Sun: “he continues to buy followers on Twitter”.
Looks like you're still buying 5,000 to 6,000 followers per day
My favorite stat is how you went from losing net-negative followers per month to gaining 5k followers daily like clock work in late 2018
You're such a meme
I feel sorry for Tron investors pic.twitter.com/zYuYWGXhmk
— Josh Rager 📈 (@Josh_Rager) September 1, 2019
Josh Rager, a famous trader, commented on Sun’s post saying that the CEO of TRON (TRX) was buying several followers on Twitter, more precisely about 5000-6000 every day.
“I feel sorry for Tron investors”
According to the community, all this could be true since Justin himself did not want to respond to these statements, making his position rather questionable.
Many, however, say that the growth of followers depends on the fact that he is a prominent person in this field and that it is normal that many users become part of the TRON ecosystem every day, or are somehow interested in it.
In any case, after cancelling the Buffett lunch and the decline of the price of TRX, the volumes of tweets related to the cryptocurrency have also been falling dramatically, suggesting that the TRON project is actually dead.
Tron saw a massive surge in tweet volume to ~500 daily tweets in June after Justin Sun's announced lunch with Warren Buffet.
Since June, tweet volumes have fallen by 59% and are approaching November 2017 lows as price has fallen from a 12-month high of $.039 to $.016. pic.twitter.com/4nqGE9Vt4I
— The TIE (@TheTIEIO) September 3, 2019
Despite the chance to win 10,000 TRX, thanks to the anniversary of the TRON Virtual Machine, the numerous news of the last days like the announcement that TRON will be listed on the new exchange of Bitcoin.com, the crypto struggles to find a rising trend, in particular after the recent collapse that brought the price of bitcoin (BTC) close to $9,000.
From June 25th, 2019 until today, TRX has gone from $0.039417 to $0.015782 with a loss of 59.9%.