BitTorrent Token Rises 27% on Perfect Trial Run On uTorrent platform
After a perfect trial run on the famous uTorrent platform, BitTorrent Token (BTT) is on course to turn into one of the world’s biggest cryptocurrencies, paving the way for a larger uptrend once complete integration is accomplished. BTT has regained the ground lost last week unlike other altcoins and is trading at historical highs.
As per Coingecko, the BTT price has skyrocketed in the previous 24 hours, rising almost 27.6% to $0.00130. BTT exceeded volume of over $392 million over the previous 24 hours, depending on the recent statistics published. Based on a combined supply of 990 billion, there is over 212.1 billion BTT in circulation. Binance handles almost one-third of BTT trades. BTT has generated a dollar-denominated return on investment of 9x since its launch earlier this year.
BitTorrent Token commands a market value of $223.4 million, ranking it 39th among active cryptocurrencies. After the effective integration of the BTT wallet and token on uTorrent, a famous file sharing platform, Tron founder Justin Sun said, BitTorrent Token will turn out to be among the top-30 cryptocurrencies by the end of the second quarter.
Sun said the BTT wallet and token were already trialed on the uTorrent platform in an interview with Bitcoin magazine and will be completely functional before the end of June.
Going through the tweet from Justin Sun about the release of BitTorrent on the Tron network that will take place in Q2, big changes are expected for the digital assets. This forecast given by Sun about BitTorrent is comparable to the period he anticipated that TRX and BTT will advance concurrently to the top 30 and top 10 places.
While Q2 2019 is already drawing to a close, it’s interesting to see if BitTorrent’s token price will get into the top 30 digital cryptos by market cap In September, BitTorrent published a robust version of its uTorrent Web. Only a month ago, it achieved a milestone of over million active customers per day.
Last summer, Sun bought BitTorrent for roughly $140 million. The takeover achieved the Tron prophecy after eight references were made to BitTorrent in the initial whitepaper of the blockchain startup.
While many questioned BitTorrent’s incorporation into the Tron network, the takeover almost immediately increased Sun’s legitimacy. However, not everyone thinks that BitTorrent can be handled by the Tron network. In January 2019, former principal strategic officer Simon Morris of BitTorrent said that BTT would melt framework of Tron.
Morris, in an interview with BreakerMag, said
“It was very clear when I was [at BitTorrent] that there was no way the transaction capacity of Tron would [work]. The transactional capacity we [were] looking at was needing hundreds of transactions a second just to get started. It’s simply not there. You hear all the bullshit out there, oh, this does 10,000 transactions a second. It’s all crap. We were going to melt Tron. Literally destroy it.”
Lately, Sun’s group finished its fourth BTT airdrop. Airdrops were planned on a monthly basis until February 2025, with an annual increase in the quantity distributed. If BitTorrent Token breaks the top-30, its market cap will probably rise to over $300 million. If the crypto party continues to gain momentum, a top-30 ranking, which implies fresh levels for the BTT price could become a reality.