Tron (TRX) and BitTorrent Token (BTT) Add 10% on BitTorrent Speed Launch
| Updated by Julia Sakovich · 3 min read
The price of Tron (TRX) and the BitTorrent Token (BTT) has increased significantly as the community is anticipating the launch of BitTorrent Speed.
This weekend was very successful for Tron (TRX) and BitTorrent Token (BTT). Excellent performance has helped Tron to strengthen its positions and enter the top 10 crypto list pushing Cardano out. The growth in the value of two main gainers of this weekend is explained by the hotly-anticipated launch of BitTorrent Speed.
At the time of writing, Tron (TRX) is traded for $0.034025. Nevertheless, a couple of hours ago its price reached the level of $0.0353 which was a sign of a 10% increase in the coin price. The market capitalization that allowed the coin to take its place among the largest 10 cryptos is $2.26 billion.
The daily trading volume has been significantly boosted by traders captured by FOMO triggered by the fact that the BitTorrent Speed beta launch day has come. As a result, $580 million of daily volume has become $863 million.
As for the BTT token daily volume, the results are even more impressive. Though earlier this figure was around $40 million, now it has already exceeded the level of $100 million. Now it is being traded for $0.001364.
BitTorrent Speed Launch Day
Today is an important day for the BitTorrent community. The team is launching BitTorrent Speed. BitTorrent users will get rewards from the system with BTT in exchange for seeding and bandwidth which theoretically should ensure faster downloads.
The payments for downloading files are to be made in BTT tokens. It also will help users to get higher download speeds. Such an approach to the organization of the content sharing system is believed to motivate users to upload files for an extended period. At the same time, those users who download files will have an opportunity to spend much less time on getting files.
According to the information provided by the company, more than 100 million BitTorrent users will have a chance to enjoy the benefits of this tokenized decentralized internet.
BitTorrent Speed represents itself a version of the InterPlanetary FileSystem (IPFS) protocol that is an open-source online file system. The testnet of BFTS (BitTorrent File System) was launched some weeks ago.
“We’re creating a platform with BTFS, BitTorrent Speed blockchain integration and the BTT utility token to let users quickly and privately interact with each other around the world without a middleman or government intervention”, explained Justin Sun, Tron Foundation and BitTorrent CEO.
The main goal of the project is to ensure the decentralization of content sharing and the elimination of the necessity to share profits with intermediaries that are staying between users and content creators.
To celebrate the launch BitTorrent CEO Justin Sun and VP of Product Justin Knoll will answer the questions of potential users in the framework of a live AMA session scheduled for today’s evening.
Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.
The market for cryptocurrencies has been sluggish over the past few months, owing to the major crypto crash in May and the external economic factors that are affecting people’s investment status and financial health.