One of the reasons behind the cryptocurrecny projects is to convince investors into storing their tokens for the future. long term investments. thereby holding the tokens and avoid trading. currently, trading platforms are engaging into trading competitions apparently to promote their platform and also the tokens as well. Are their no effects of these to the community and the project developers?
I don't think so, most cryptocurrency projects reason nowadays is just to make money, they want people to store or hodl their tokens so that the price will go up and developers will make more money as they hold the most of token supply. There's really no effect to the community about trading competitions, exchanges promote their platforms because if more traders will use their service/platform then they will earn more from every trades being made in their platform, and that's only it.