cryptonews.net
07 December 2023 13:23, UTC
The $BTT token, native asset of the file-sharing platform BitTorrent has doubled in price amid news about the Tron blockchain. As it is known, the Tron project acquired BitTorrent in 2018.
The sharp rise of $BTT proce came shortly after Tron founder Justin Sun posted on X (Twitter) that the blockchain had reached 200 million users: “This is not only a significant milestone but also a testament to our growing ecosystem.”
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In addition to user growth, Tron is popular in DeFi, with a total value locked (TVL) of $8.2 billion. This makes it the second largest blockchain after Ethereum in terms of users and TVL — essentially these metrics demonstrate how much money is invested in a certain crypto ecosystem.
At the time of writing, BitTorrent’s market capitalization is approximately $720 million, and the asset ranks 76th in the overall crypto ranking by Coinmarketcap. Meanwhile, the daily trading volume increased almost 5 times and reached $350 million. After reaching annual peaks, the price of the asset rolled back by more than 15%.
