BitTorrent (BTT) Has Been Turning Heads— Will It Set a New All-Time High?
BitTorrent, dubbed the world's biggest distributed network, has been gaining a lot of attention because it has been known to make significant jumps. Will it reach 1 cent?
July 27 2021, Published 8:14 a.m. ET
Popular decentralized file sharing and torrent platform BitTorrent (BTT) has been making some movement on the market. BitTorrent, dubbed the world's biggest distributed network, has been gaining a lot of attention since it has been known to make significant jumps. Mimicking movements like other key alt coins such as Ripple (XRP), investors are paying close attention to BTT, its price predictions, and cannot help but wonder— will it reach 1 cent?
As a peer-to-peer protocol, BitTorrent facilitates the transfer of large, highly demanded files without the the need for a trusted central server. In order for the BitTorrent protocol to implement a distributed infrastructure services economy, BitTorrent introduced the BTT token to the BTT economy. In exchange for tokens, end users can offer infrastructure services. A blockchain solution will provide a store of value and medium of exchange that speculated to scale.
What is BTT and It's Price Prediction for 2021?
BTT is a TRC-10 utility token on the TRON (TRX) blockchain that powers features of decentralized protocols and applications (dApps) powered by BTT. These include BitTorrent Speed, BitTorrent File System, DLive, and others in the horizon. As a blockchain ecosystem, TRX bought BitTorrent in 2018. The company has since then given it quite a rebrand and created its native token, BTT.
BTT denominates transactions for the provision of services in the BTT-enabled BitTorrent ecosystem. It will be made available as a divisible token, allowing for granular pricing. However, due to the speculative volume, there isn't direct use of the public TRON blockchain for all transactions. Scalability limitations have resulted in BitTorrent to deploy a “on-chain/off-chain exchange.” The exchange is said to enable the transfer of tokens between a private ledger and the public TRON blockchain.
This past spring, BTT boomed along with other alt coins. Allegedly, the token actually passed the one cent mark, but only for a brief moment. It steeply dropped off as the whole market took a dive this past May and it appeared to have crashed. According to experts, they are relying on the platform's traffic and an overall crypto "bullish" attitude and enthusiasm to bring the token back over the 1 cent mark. Analysts understand that with the majority support of cryptocurrency as a new asset class, BTT’s past associations with piracy won’t even be considered. Whether it's the end of this year or in one year's time, experts and analysts are confident BTT can potentially reach 1 cent again.
BTT now provides staking and the list of exchanges keeps growing.
Many protocols incentivize users through proof of stake (PoS) mechanisms. With its complete revamp, BTT can now be staked on platforms like Binance and DLive, a video game live streaming service on the blockchain. Providing a percentage of all transactions on DLive and spontaneous airdrops on Binance, holders and potential investors are compelled to hold their BTT to monetize.
Speculators who are curious about BTT can find it exchanged on Binance, KuCoin, Upbit, Huobi, and Gate.io. To maximize on some BTT and potentially TRON, Bitpie, BitForex, and CoinEx are wallets and exchanges that support its airdrop program. While speculative, the growth of BTT is inevitable and only time will tell if it breaks its all time high.