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Tron’s BitTorrent [BTT] sees major slump; falls by 5.64%

ambcrypto.com 12 March 2019 13:10, UTC
Reading time: ~2 m

Tron’s BitTorrent [BTT] has been gaining popularity amongst the masses ever since its launch and the Chief Executive Officer of the Tron Foundation and BitTorrent, Justin Sun, has managed to keep up the hype surrounding the token, despite its falling price.

Source: TradingView

BTT, at press time, was valued at $0.0007 and reported a 24-hour trading volume of $39.83 million. However, the coin fell by 5.64% over the past day and has since been trying to recover. The coin was undergoing market correction at press time and was up by 1.06% over the past hour. Over the week, the token ranking 1,783 on CoinMarketCap list reported a fall of 1.20%.

The token was highly traded on Binance Exchange, one of the largest cryptocurrency exchanges in the world. BTT recorded a total trading volume of $10 million for the BTT/USDT trading pair and a volume of $8.6 million with the BTT/BTC pair on Binance. UPbit noted a trading volume of $9.5 million with the BTT/KRW pair.

BitTorrent recently concluded its second round of the BTT airdrop for TRX holders on various exchanges and wallets. Along with these airdrops, three new incentive programs have also been planned for BitTorrent and uTorrent users, partners, and ecosystems. These three incentives are User incentives, Partner incentives, and Ecosystem incentives.

Each of these programs is designed to increase the adoption of the newly-launched coin and benefit investors. Under user incentives, BitTorrent plans to educate its people about why it’s crucial to invite more investors and spur wider adoption. This incentive was driven by only a handful of the company’s 100 million monthly users holding Tron [TRX] or BitTorrent [BTT] tokens. The company plans on offering incentives to all clients using its protocol, while offering to be the largest open-source P2P download protocols in the world, under the Ecosystem incentive.

According to the Tron Weekly report, BitTorrent [BTT] has been listed on 35 exchanges and under the partner’s incentive, the company plans on adding multiple wallets and exchanges that will support the token.

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