#Bittorrent market cap upgrade
The upgrade of BitTorrent with BTT makes the network more distributed.
BitTorrent’s long-term vision is to broaden the usage of the protocol by being a distributed network for dApp developers and a pivotal factor in the rise of the decentralized web. Another popular dApp is the BitTorrent File System (BTFS), a file storage protocol that addresses cost and trust issues inherent in centralized storage systems.
#Bittorrent market cap download
One of its premier dApps, BitTorrent Speed, allows users to purchase provider bandwidth using BTT to increase download speed. The BitTorrent network also leverages TRON’s suite of smart contracts to build a variety of dApps. Moreover, decentralized technology enables the protocol to open up a new borderless economy, exchanging value for computing resources globally. Integrating blockchain technology into the protocol allows collaborations among users to continue securely for extended periods.
#Bittorrent market cap software
How Long Will it Take for BitTorrent to Reach $0.10?īitTorrent is a software that connects users accessing its network to compute file sharing requests.Thus, the new BTT all-time high appears to be the result of a technical breakout not only driven by strong social media momentum but also the rebounding price of Bitcoin ( BTC) as well as altcoins across the board.Īs Cointelegraph reported, Bitcoin's market dominance has dropped below 60%, while the total market capitalization of altcoins reached a new all-time high of $855 billion on March 31. Social media sentiment spikesįinally, the daily sentiment score versus the tweet volume for BTT surged by 377% beginning March 30, right before the price of BTT began to rally. Join us now in the marvelous adventure navigated by JUST #NFT!"Ĭonsidering that BitTorrent Token is a part of the Tron ecosystem, the positive sentiment around NFTs and the focus of Sun on the NFT market may have had a positive effect on the value of BTT. On March 29, BitTorrent tweeted: "Justin Sun announced the official establishment of the #JUST NFT Fund and the Plan to hire a top tier artist as the chief NFT advisor of JUST #NFT Fund. Along with this flexibility, customers can continue to earn staking rewards right up to the moment they decide to trade their funds into a different asset."Īdditionally, BitTorrent has been pushing the narrative of Sun buying high-profile NFTs as of late. The exchange said: "With Poloniex staking, customers earn rewards while maintaining the flexibility to trade, deposit, and withdraw at all times. The staking announcement from Poloniex could have added to the buyer demand for BitTorrent Token because users can earn rewards by buying and staking BTT. #Staking on #Poloniex gives you a simplified way to earn rewards by depositing and holding assets in your account!Ĭheck it out - Poloniex Exchange March 25, 2021 On March 25, crypto exchange Poloniex - which, as Cointelegraph reported, was acquired by a consortium of buyers that included Sun - announced BTT staking. Several factors could have boosted the price of BTT in the past several days, however - namely, staking on Poloniex, Tron founder Justin Sun's high-profile purchases of NFTs and rising sentiment on social media. Since then, the volume of BTT has continuously increased, causing it to garner more momentum as it surged past its all-time high. Nevertheless, the token has demonstrated strong technical momentum since it spiked by nearly 120% within a week in mid-March. There has been no clear fundamental catalyst behind the BTT rally to date. Source: TradingView Is there any catalyst behind the BTT rally? What's more impressive, the token's value has increased more than tenfold in the past two months. The rally took the valuation of BTT to over $5.2 billion, making it the 24th-most-valuable cryptocurrency by market capitalization. BitTorrent Token (BTT), the native token of the popular peer-to-peer file-sharing protocol BitTorrent, has surged nearly 30% in the past 24 hours.
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