The all-new peer-to-peer network on Tron foundation – BitTorrent token [BTT] is scaling significant heights after its launch last month. The valuation has soared dramatically following its crowd sale on Binance Launchpad and at one point mounted nearly six times the value set during its fundraising.
At the time of writing, BTT/USDT pair with a net volume of $76.5 million had been trending at Binance and managed to outpace BTT/BTC which stood at $53.84 million. The token was priced at $0.0007733 with a 41% hike and the amount of volume traded accounted for a whopping $245.42 million.
The token has now been listed on KuCoin with the trading pair BTT/BTC trading a volume of $58.3 k and BTT/ETH trading a volume of $6k.
Even during the prolong bearish course, Justin Sun-Changpeng Zhao’s new cryptographic token, BTT has managed to perform brilliantly. The airdrop that took place in two separate occasions, directed by Tron and Binance, was met by a technical glitch during the clamorous session that smashed in 13 minutes 25 seconds as recorded by Tron and 14 minutes 41 seconds by Binance.
The Binance Launchpad is gearing up for the launch of another token called Fetch.AI, scheduled for February 26, 2019.
BitTorrent Inc announced on its official Twitter handle:
“Have you heard about #BitTorrentSpeed? It’s a game-changing #blockchain based application expected in Q2 of 2019 that will reward BitTorrent users with $BTT in exchange for seeding and bandwidth, increasing the speed of torrent downloads and creating a healthier ecosystem.”
Justin Sun, Founder and CEO of Tron foundation retweeted:
“Learn more about #BitTorrentSpeed. $BTT, a game-changing #blockchain based application on #TRON. #BitTorrent #BTT #TRX $TRX”
BitTorrent users will now be ushered with BitTorrent token [BTT] with a newfangled asset called – BitTorrent Speed. BitTorrent client users can earn BTTs in exchange for seeding and bandwidth thus facilitating efficient downloads.
The product was unveiled on January 31st, 2019, following which, a significant number of phishing websites and ICO’s offered fake BTTs on their platforms.
Citing that the overriding objective of this feature is to check and bolster the adoption of the token, the BTT white paper stated:
“The introduction of this feature will solve problems within BitTorrent as well as prove the effectiveness of using blockchain-based rewards for provision of infrastructure services in small increments across a very large installed base.”