By The price of BitTorrent’s token (BTT) is already close to being worth six times its price since the initial coin offering (ICO) which took place just over a week ago.
An astounding 59.8 billion BTT tokens were sold during the Binance token sale on the 28th of January with each token going for $0.00012 according to sale data provided by Binance.
The price has gone by 40% since as of yesterday already making BTT trade at a notably higher price of $0.000798 which is whopping 565% increase from the original price during the ICO sale as per data from Coinmarketcap.
The ICO sold out in under twenty minutes which resulted in a number of complaints from potential investors who were unable to make purchases due to technical hitches. However, the BitTorrent Foundation did compensate for this by delivering an airdrop of around 5,000 tokens to each user who was unable to participate during the ICO.
This token issuance came a few months after BitTorrent was acquired by Tron last year and a few weeks after a new digital asset was announced to the world which would be integrated with the peer-to-peer file sharing technology of BitTorrent.
This acquisition did, however, lead to some backlash as well as some staffers leaving with the announcement of the BitTorrent Token also garnering some negative sentiment.
Since the issuance, a myriad of crypto exchanges has listed BTT for trading. The biggest markets for the token currently are Binance and UpBit which have accounted for more than 90% of BTT’s $270 million total trading volume in the last day.
If one takes the current state of the crypto market, on the whole, BTT’s recent performance is an exception to the rule. This outstanding one week return for the token amounts to almost 600%.
What are your thoughts on the stellar performance of BitTorrents token? Could this be a great sign of things to come or just hype? Let us know your thoughts by commenting below.
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