cryptonewsz.com
BitTorrent Chain, a collaborative project between BitTorrent and TRON, has reflected on its achievements in 2023. For starters, BitTorrent has highlighted that they have been able to keep the market cap steady while keeping the total volume locked to a new peak with a growth of 33.61%. The value amounts to $16.06 million based on the year to date.
BitTorrent has ventured out to explore the DeFi segment, which is decentralized finance. It has, so far, integrated several projects into the mainstream. This includes the likes of SpookySwap, Sushi, and Kyberswap. That said, BitTorrent is confident about its upcoming projects, which range from Pyth.network to Graph, all of which are set to launch in 2024. This is a tentative timeline, and the actual timeline will be announced by BitTorrent later.
The market cap for stablecoins has crossed the milestone of $11.21 million by 5,992 holders. The stablecoins under the light are USDT, USDD, USDC, BUSD, and TUSD. Value has been mapped from BSC, Ethereum, and TRON.
BitTorrent Chain was launched on September 15, 2021. It soon realized the importance of backing its operations with a proof-of-stake consensus mechanism. BTTC is compatible with Ethereum Smart Contracts and supports the movement of assets between different blockchains, including, but not limited to, TRON, Ethereum, and Binance Smart Chain.
The most recent achievement for BitTorrent Chain is getting support from Pyth Network. The development dates back to December 15, 2023, and builds on the foundation laid by many other developments. BTTC launched the chain switcher on SpookySwap in November 2023. This occurred after MDEX deployed BTTC.
Other achievements of the BitTorrent Chain in 2023 are:
- Launch of BTT trading on Bittrex Global in July 2023
- Support from SWFT AllChain Bridge in April 2023
- Launch of new yield farms on BTTC by SushiSwap in February last year
The most recent announcement comes after a detailed listing of what BitTorrent did in 2023. It sheds more light on the activities that BitTorrent supported or opened up for itself. For instance, the previous announcement highlights BTFS Storage V1.2 going live in April 2023.
BitTorrent’s native token has seen a larger number of fluctuations in its value. BTTOLD is currently down by 35.73% in the last 24 hours, exchanging hands at $0.0005013. However, it marks a jump of 24.35% in the last 7 days and 112.50% in the last 30 days.
The market cap has indeed been steady for some time. There are variations one can come across in terms of 24-hour volume. That has seen an increase of 48.89% and intends to sustain the mark in the times to come.
BitTorrent continues to explore the sphere of DeFi and integrate noteworthy projects. It had 199,543 holders at the time of the original announcement by BitTorrent. Assuming it keeps up with developments in the DeFi segment, it is right to assume that BitTorrent Chain will have more holders by the end of this year.