Tron (TRX) has registered an extraordinary performance during the last few months. Now, Tron was able to surpass Litecoin (LTC) as the 7th largest virtual currency in the market. The digital asset and project are experiencing very positive times ahead of the BitTorrent Token (BTT) launch.
Tron Experienced Massive Growth in 2 Months
Tron has been growing at very fast rates during the last eight weeks. The digital currency has grown 164% since the end of November until now. This shows that the digital currency is experiencing a very positive moment in the market.
One of the most exciting things related to Tron is related to the upcoming BitTorrent Initial Coin Offering (ICO). BitTorrent Tokens (BTT) are available for purchase using TRX coins. The BitTorrent Tokens will be launched to the market on January 28.
There are some analysts that predict that this could just be a ‘buy the rumour, sell the news’ event. Nevertheless, the progress that the token has made during the last few days has been impressive. Indeed, the independent rating agency, Weiss Ratings, released a tweet in which they say that the TRX/USD trading pair is the most bullish looking chart of any top 10 projects.
It is also important to see the whole chart. Tron is still down more than 90% from its all-time high registered in January 2018. At the lowest point, Tron lost more than 95% of its value.
We might give #TRON a hard time every now and then, but give credit where credit is due: The #TRX/USD pair is the most bullish looking chart of any top 10 project right now. The popularity of this project cannot be denied. #BTC #altcoins #bitcoin #crypto #cryptocurrency
— Weiss Ratings (@WeissRatings) January 25, 2019
Tron purchased BitTorrent back in 2018 with the intention to bring blockchain technology to the masses. With the BTT Token, the intention is to improve the services provided by BitTorrent. However, the BTT token has received some critics from a former BitTorrent executive. The Tron platform might not be able to process the large number of transactions that the BTT token requires.
The BTT token was unveiled by Justin Sun at the beginning of January in a blog post. The digital asset will be launched not as a normal Initial Coin Offering. It will be launched using Binance Launchpad, a token sale platform owned by the crypto exchange Binance.
“BitTorrent token is the first in a series of steps to support a decentralized internet,” said Justin Sun. “In one giant leap, the BitTorrent client can introduce blockchain to hundreds of millions of users around the world and empower a new generation of content creators with the tools to distribute their content directly to others on the web.”