BitTorrent’s Native Crypto BTT Up 700% Since ICO
Tron Foundation completed a highly successful ICO of BitTorrent token (BTT) a week back. The huge demand for the token seen at the time of ICO did not fade and continued after it got listed in major cryptocurrency exchanges such as Binance.
The crypto token, which will function as the native currency of the P2P file sharing platform BitTorrent, has gained nearly 700% in the past few days.
BTT is supposedly part of Tron’s broader plan to create a decentralized content distribution platform using the crypto currency.
On January 28, Tron Foundation offered BTT for sale to investors in partnership with Binance Launchpad and the crypto token got sold in roughly 15 minutes, raising $7.1 million dollars.
Tron CEO and founder Justin Sun officially confirmed that 23.76 billion BTT had been sold in 13 minutes and 25 seconds at a price of $0.00012 per token.
At the time of writing this article, BTT was trading at $0.001113, up nearly 700% from the price at which the token was offered during ICO. In the past 24 hours, $568 million worth BTT was traded in exchanges, while the total supply is around 990 million.
Bitcoin (BTC), in the meanwhile, continues to hover at around $3,500.