BitTorrent crypto was priced at $0.00028 in December. The coin stayed stagnant for much of January and then suddenly exploded in February. The price of the cryptocurrency has been increasing at an exponential rate ever since. BTT token is currently standing at a price level of $0.0035 which has also been established as its all-time high. The price of BTT saw an increase of 15% in the past 24 hours. The cryptocurrency has gathered the spotlight with its phenomenal performance. Standing at its all-time high, traders are hopeful and are expecting the coin to continue to go upwards.
BitTorrent (BTT) is ranked at 32 in terms of market capitalization. With a value of $3,539,274,125, the market cap of the coin has gone up by 15%. In the daily timeframe, the cryptocurrency has stayed relatively stable. BTT established its 24-hour at $0.0038 while the low for the day stands at $0.0025.
Technicals
The market sentiment for the cryptocurrency is bullish. Seven of the technical indicators are standing at a neutral position with fifteen giving out a buy indication and only four are at sell position. The market continues to be dominated by buyers. The oscillators are neutral while the Moving Averages are giving out a strong bullish indication. Given the current trajectory of the cryptocurrency, it can be expected to be moving towards the classic resistance level of $0.0044.
What is BitTorrent crypto?
Justin Sun, founder of Tron Foundation, acquired BitTorrent, the peer to peer file sharing software, in 2018. Sun has had plans of driving the project to new heights. It was soon revealed that the BitTorrent token (BTT) will be integrated into the platform to increase its efficiency. BTT token runs on the Tron protocol and it is used to incentivize users on the BitTorrent software to share their files on the network.
Users are rewarded with BTT for seeding and bandwidth. This makes files available on the network and, hence, easier downloads. Requesters – those who request files or wish to increase their download speed – buy and spend BTT tokens on the platform and providers – those who upload files – earn BTT and can subsequently choose to utilize the tokens on the network or convert it into fiat money.
Will BTT continue upwards?
The enigmatic Justin Sun has been very active in the field – constantly rolling out plans for BTT. From partnership with Huawei to the launch of DLive protocol, BitTorrent has been gaining popularity. Moreover, given the recent performance and market sentiment, it can be safe to assume that BitTorrent coin may soon establish a higher all-time high. Major cryptocurrencies like Bitcoin and Ethereum have turned bearish but despite the downwards movements of the market leaders, BTT has established its all-time high – indicating towards the high bullish momentum on the coin.
