BitTorrent Token fires 1,000% in 1 month; understand the reason
The token, from the point-to-point communication protocol for distributing BitTorrent files, is printing significant gains.
After all, in the last 7 days, crypto increased by 225%, from US $ 0.003 on March 29 to a current US $ 0.012 (R $ 0.068). In the accumulated monthly, the token has already appreciated more than 1,000%.
Only in the last 24 hours, during which the token registered its historic maximum price of US $ 0.012, the appreciation was higher than 57%.
The soaring price caused the market value of the crypto to exceed $ 13 billion for the first time. In this way, BTT was pushed very close to the 10 largest cryptocurrencies in market value.
About BitTorrent (BTT)
BitTorrent is one of the largest file sharing protocols decentralized in number of users.
The protocol was developed by Bram Cohen and launched in July 2001. In July 2018, the project was purchased by, from Justin Sun. Thus, BTT was built on the Tron blockchain and is a TRC-10 standard token.
The crypto aims to create a token-based economy for network resources, bandwidth and storage on the BitTorrent network.
More precisely, the token attempts to provide network participants with a way to “capture the value of bandwidth and storage allocation”.
In addition, in its new version, BitTorrent implements a tokenization with the BTT token. In this way, it helps content creators to connect with their followers and earn money without sharing their income with intermediaries.
Decentralized applications with BTT support include BitTorrent Speed, BitTorrent File System and DLive.
BitTorrent is traded on 74 exchanges, the main ones being: Upbit, Binance and OKEx.
About the high of BTT
The rise in crypto in the last 24 hours coincides with the announcement of some development updates made by the project on Sunday (4).
The update includes an increase in the decentralization of the network and the completion of the repair mode.
“BTFS Development Updates;
Increased decentralization of the BTFS network. Protect decentralized testing on both the client and server side [50%];
Repair mode [concluído];
Challenge mode [em andamento].”
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