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BitTorrent Fundamental Analysis
BitTorrent is the native crypto to the eponymous platform that works with the P2P protocol. It offers Internet users access to download various multimedia files. Certainly, it is one of the first platforms that dealt with this sector, and it has been maintained over time. The reason for its creation is related to the possibility of making faster downloads. The cryptocurrency that is linked to this platform is basically used to drive the project. It rewards people who use the application, in order to increase the level of transactions with the cryptocurrency. Thus, BTT also achieves a favorable position in the market and creates an environment where everyone wins. It is a token based on the TRON cryptocurrency protocol which is why BTT is also decentralized. BTT allows you to earn money just by downloading files. Despite being a relatively young cryptocurrency, it already has an excellent acceptance. What is really special about the BitTorrent project is that it offers a real solution when uploading and downloading large files. It must be said that BTT is a pillar of BitTorrent Speed, and without this cryptocurrency, this project could practically not be financed.
BitTorrent Live Price Chart
BTT’s price has been relatively low for most of its existence, trading under $0.0005 in 2020 and in the beginning of 2021. It started climbing up in February 2021, breaking the ~$0.0017 mark several times, and later experiencing a truly meteoric rise to ~$0.014 in early April. This surge might have been caused by Justin Sun’s, who is the CEO of TRON (BTT’s owner company), acquisition of Poloniex – an exchange that allows users to stake their crypto for rewards. This move drove BTT’s price up since BTT’s listing on Poloniex caused some users to stake their funds, lowering the circulating supply, and also drummed up some interest for this currency. However, BTT didn’t enjoy this success very long: soon after peaking, BTT’s price started its long decline, reaching around $0.003 in June, 2021. Long-term forecasts are still predicting growth, but it will probably depend on the health of the Bittorrent network as a whole.
BitTorrent Technical Analysis
BitTorrent Price Prediction
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