BitTorrent Token (BTT) Surges 55% as Exchanges Stack Up; Tron (TRX) Defies Dip

BitTorrent Token (BTT) saw a 55% increase to its value in the twenty-four hour trading window leading into Monday afternoon. The token now finds itself listed on seven exchanges, including major trading hubs like Upbit, Kucoin, and specifically Binance, where over 50% of BTT trades originated in the last day.

The bigger cousin of BTT also saw significant upward movement in the same period, as Tron (TRX) notched up 13% growth before a sizeable pullback. TRX volume appeared to be on the rise once more, with a 95% influx arriving in just a few hours.

BTT Price

Five days after Binance listed BTT the token is recording close to $130 million worth of trades. The BTT sale process took roughly fifteen minutes, and saw just under 60 billion tokens snapped up via BNB and TRX transactions.

Leading into Monday BTT trade volume rose 1,125%, from $20 million up to $245 million. The token price rose with similarly, climbing from $0.000485 up to $0.000756 – a 55% increase.

That’s a quick turnaround from just four days ago, when the token price sunk by 22% shortly after trading commenced. Things looked choppy for a moment, and clinical takedowns of the BTT concept were popping up all over social media, like this one:

“I can click a free magnet link

Or

  1. Buy BTC
  2. Register Binance account
  3. KYC
  4. Transfer $BTC to Binance
  5. Wait for confirmations
  6. Purchase $BTT tokens
  7. Read a $BTT tutorial
  8. Transfer $BTT to Bittorrent client and pay for saving time on my download.”

Tron CEO and founder Justin Sun responded to such concerns during his recent interview with on CNBC Africa, with Ran Neu-Ner. Sun stated that the BTT torrenting accelerator process is entirely optional; and that those who do opt to use the service will experience increased downloading speeds compared to normal.

Tron Price – TRX/USD

Tron continued its pattern of defying market dips with a 13% surge on Feb 4th, climbing up as high as the $0.028 range while most major altcoins were glowing red.

The subsequent pullback took the TRX coin price back down to $0.027079, but that’s still a 7% increase on yesterday’s starting price of $0.025199.

TRX volume is pushing higher once more, moving from $160 million to $312 million with the highest concentration of trades coming from TRX/ETH trades on the OEX exchange. Despite almost doubling in the last twenty-four hours, TRX trades on Binance represent less than half the sum of its torrenting counterpart, BTT.

Tron holders might be interested in the latest weekly community update which covers the continuation of TRX’s rapid transaction increase, tech updates, and a summary of recent awards and events. Bombastic founder Justin Sun recently rolled out the ‘Ethereum Killer’ label once more, in reference to Tron’s supposed replacement of Ethereum, and the news that Tron’s DApps were dominating the decentralized application marketplace.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Author:
Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.