The major cryptocurrencies on the market have been suffering the bear’s attack for a long time now and the bear has not spared any cryptocurrency, including the new sheep in the park BitTorrent [BTT]. The newly released cryptocurrency was riding the bull high for a few days following it’s highly anticipated airdrop but remained unsuccessful in escaping the bear’s trap.
At the time of press, BTT was valued at $0.000905, with a 24-hour trading volume of $466 million. The coin, after falling by 20% over the past 24 hours, is still slipping on the one-hour chart with a dip of 3.96%. However, when we consider the trading volume of the coin, it makes it to the top-10 cryptocurrency.
The coin, until February 5, was on the sixth position in terms of trading volume, leaving major coins like XRP and Tron [TRX] behind. As of February 6, the coin that ranks 1,758 on the CoinMarketCap list, ranks fifth in terms of trading volume as it overtook EOS, at the time of press.
As of February 4, BitTorrent noted a flash hike, where it pumped by over 50% within hours, after which it continues to fall.
The coin was highly traded on UPbit, which recorded a trading volume of $212 million with the BTT/KRW pair. BTT recorded a trading volume of $167 million with BTT/USDT pair on Binance, followed by a trading volume of $102 million on the same platform with BTT/BTC pair.
BTT’s sale came to an end on January 28 in record time through Binance’s platform, which recorded a sale of 59.8 billion tokens. Due to some glitches, some users were unable to buy the token and Justin Sun, founder and CEO of Tron foundation acknowledged it and decided to discuss the possibility of scheduling an airdrop for such eligible users. The CEO of Tron confirmed the success of this airdrop in a tweet and said:
“#BitTorrent (#BTT) has completed an airdrop of 5,000 $BTT to all users that were eligible but unsuccessful in purchasing BTT on @binance Launchpad. #TRON #TRX $TRX”