One of the reasons behind the cryptocurrecny projects is to convince investors into storing their tokens for the future. long term investments.
very WRONG!
the reason behind altcoins is pump and dump.
even if they weren't pump and dumps, what you said is still not the main reason for cryptocurrencies! the main reason is for them to be used. so they should have encouraged the users to adopt the coin as a "currency" which is in their name also. and encourage merchants to accept their coin as payment as some projects are doing with little success.
currently, trading platforms are engaging into trading competitions apparently to promote their platform and also the tokens as well.
Why are Exchanges promoting Trading competitions?
it is simply because a trading platform doesn't care about anything except making profit. and the only way they make profit is if more people trade more on their platform so that the volume increases. hence the promotions,...
Are their no effects of these to the community and the project developers?
a project must be solid enough so that it is not affected by how people are using it! and also be free enough so that anybody uses it anyways they like.