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TRON Price Sinks 20% In The Last Seven Days Despite Mainnet Launch

Stefan by Stefan
02/06/2018
in Tron News
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The price of TRON has dropped over 20% in a single week, even despite its mainnet launch called Odyssey 2.0 which separated the cryptocurrency from the Ethereum chain, according to CCN. The launch of the mainnet on May 31 was a decision that will exit Ethereum’s “archaic gas burn mechanism and high gas fees” according to the announcement from the company.

The founder of TRON, Justin Sun, also announced a bounty program with a $10 million top reward for the mainnet. However, the price of TRON marched down and was $0.073 on the close May 26th. Currently, it is $0.056 which represents an over 23% decrease in the last seven days.

What’s most interesting is that this mainnet protocol was anticipated for the project – and TRON even backed users that the price of the cryptocurrency would be rising. Plus, the company would gain new independence in the development roadmap and governance.

According to Tron Labs:

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“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.”

Many Twitter users are angry because of the price of TRON falling, commenting that the only obvious thing so far with this mainnet is the declining price.

TRON was also criticized for its over-hype and the plagiarism like the partnership with Baofeng and other projects’ white papers.

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Stefan

Stefan

Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.

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