The Trove project launched token trading on January 20th, with an opening valuation of up to $20 million, but within less than 4 hours, it dropped to $950,000. During the fundraising process, the Trove team reserved $9.4 million for Solana development, sparking anger and accusations from investors. The project also faced issues such as unclear funding flow for KOL promotion and multiple rescheduling of the ICO deadline, ultimately leading to a large sell-off of tokens that intensified community dissatisfaction.