The digital currency BitTorrent Token (BTT) has registered a price increase of over 900% during the last week. After being released back on January 28 on the Binance Launchpad, BTT grew almost exponentially. This is a token launched by the Tron Foundation in order to allow users to have better services on the BitTorrent platform.
BitTorrent Token Registers Exponential Price Increase
Just a few days after being launched, the BTT token is reaching new records. Clearly, the few hundreds of individuals that were able to purchase BTT tokens during the sale will be able to sell them shielding a nice profit.
The BTT token was launched through the Binance Launchpad platform. This is a platform specifically created by the Binance exchange to launch Initial Coin Offerings (ICOs) from recognized companies and recognized Binance partners.
In order to purchase this digital asset, users could do it using Tron (TRX) or Binance Coin (BNB). The token sale lasted just a few minutes and the tokens were sold to just a few hundred individuals. During the selling period, several investors experienced different problems trying to buy the BTT token. After it, the Tron Foundation decided to perform an airdrop and give some coins to those that were not able to purchase them.
Each of the coins was sold at around $0.00012. There were 23.76 billion BTT for users purchasing them with BNB and 35.64 billion for users purchasing them with TRX. Both token sales were ended in around 15 minutes registering an unexpected demand.
It is official: In the BNB session, all 23.76 billion BTT were sold to token sale participants within 13 minutes and 25 seconds. Meanwhile, in the TRON session, all 35.64 billion BTT were sold within 14 minutes and 41 seconds. #BTT $BTT #BitTorrent #TRON https://t.co/C1dqxRkO2l
— Justin Sun (@justinsuntron) January 28, 2019
As we wrote at UseTheBitcoin after the token sale, both Binance Coin (BNB) and Tron (TRX) experienced a price surge the weeks prior to the sale. However, as soon as the ICO finished for both the BNB and TRX tokens, both digital assets dropped.
Now, the digital asset has been listed on the cryptocurrency exchange KuCoin and also in Binance. Upbit and OKEx have also listed the new BTT token. In the future, other exchanges such as Cointiger, Bitbns and TRX Market are expected to list the BitTorrent Token.
According to data provided by CoinMarketCap, the BitTorrent Token is currently being traded around $0.001087. In the last 24 hours, the digital asset registered a price increase of 43.46%. Taking into account its total supply of 990 billion BTT, the digital asset would have a market capitalization of $1.07 billion.