Price Of BitTorrent Tokens Grows Tenfold Since Token Sale
The cost of the recently launched BitTorrent tokens (BTT) exceeded its initial price since the token sale by almost 10 times. On Tuesday, February 5, the rate reached its peak for the whole period of the coin’s existence — $0.0012, according to CoinMarketCap.
Recall that the initial sale of BTT took place on January 28, and lasted only 18 minutes due to a huge influx of investors. The token sale was held on the Launchpad platform for ICOs, developed by the Binance exchange. At that time, the BTT starting price did not exceed $0.00012.
After the launch on January 31, tokens were traded on exchanges at a price of $0.0004 during four days. But on February 3, the BTT rate soared up, and in just two days the token increased by 300%.
Now the price of BitTorrent coins has adjusted and returned to the $0.009 level. The average daily trading volume is $530 million, and tokens are available at the Asian platforms Binance, Upbit, OKEx, and several others.
BTT has been on the market for almost a week, but it is not yet known how many coins are in the circulation. During the ICO, 59.4 billion tokens were sold totalling $7.2 million. The maximum issue of BitTorrent cannot exceed 990 billion coins.
The BitTorrent brand became a subordinate of the blockchain company TRON in summer of 2018. Later, Justin Sun announced the release of the BitTorrent cryptocurrency based on the TRON technology. By developers’ design, users of the torrent program will be able to receive rewards in tokens for distributing files, which will significantly increase the speed when downloading large volumes.