What Happened With BTT Crypto? – According to CoinMarketCap numbers, the price of the BitTorrent Token has dropped by 103 percent in the last seven days to a new historical high of $ 0.003902.
What happened: The majority of the sudden rise in the currency’s price occurred over the weekend, with the last two days representing an 80 percent price surge.
BitTorrent is a peer-to-peer (P2P) file sharing and torrent site that was developed for the first time in 2001. In 2018, it was purchased for $ 120 million by the Blockchain Tron network, and a native cryptocurrency, BTT, was launched on the Tron Blockchain.
BTT has a cumulative supply of 990 billion chips, 19 percent of which has been allocated to the BitTorrent team and the remaining 20 percent to the Tron Base.
Why it matters: Unlike most cryptocurrency tokens, which are based on the Ethereum Token Standard known as “ERC-20,” the BitTorrent Token BTT is a “TRC-20” Token that uses the Standard Tron block block.
Service providers use BTT to distribute content, and consumers use it to pay for decentralised storage services.
Since its inception, BTT has been forced to the sidelines and has not seen substantial price action, except for a brief spike in response to a Reddit Group R / Satoshistreetbets call to “pump the price of the currency.”
The great headlines that affect the course of the BTT price trend are likely to have fueled the rise in this week’s prices.
Although most merchants took profits at this stage, some are still keeping their chips in anticipation of an impending token burn, which will result in another bullish rally.
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