The price of the BitTorrent Token was removed from 103% in the last seven days to reach a new historical maximum of $ 0.003902, according to CoinMarketcap data.
What happened: most of the sudden increase in the currency at the price took place during the weekend, as the last two days represented a price wave of 80%.
BitTorrent is an exchange of PEER-TO-PEER files (P2P) and a torrent platform that was created for the first time in 2001. In 2018, it was purchased by the Blockchain Tron platform for $ 120 million, and a native cryptomonecurence was launched Dedicated, BTT, launched on the Tron Blockchain.
BTT has a maximum supply of 990 billion chips, of which 19% of its total supply has been assigned to the BitTorrent team, and 20% are found with the Tron Foundation.
Why it matters: Unlike most cryptompurence tokens that are based on the top of the Ethereum Token Standard called “ERC-20”, the BitTorrent Token BTT is a “TRC-20” Token that uses the Standard Tron block block.
BTT is used by service providers to distribute content and by users to pay decentralized storage services.
Since its launch, BTT has been negotiated greatly aside and did not witness any significant price movement, except for a brief pump after a Reddit Community R / Satoshistreetbets call for “pump the price of the currency”.
It is likely that the increase in this week’s prices has been fueled by the great headlines that influence the direction of the BTT price movement.
While most merchants took profits at this level, some are still holding their chips in advance of an imminent token burning that leads to another bullish rally.
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