BitTorrent’s BTT token has seen its price surge by over 600 percent since its initial coin offering (ICO), according to data pulled from CoinMarketCap.
The ICO for the token lasted for just 15 minutes, with over 7 million USD raised in the process. The BTT token has embarked on a Bull Run over the past few days and is now more than 600 percent higher than its ICO price.
BTT token is on a bull run
BitTorrent, a P2P torrent platform that enables users to share files over the internet. This platform launched the BTT token on the Tron network last month. The token is part of a broader ambition by BitTorrent and Tron to build a decentralized content distribution platform using the cryptocurrency.
Furthermore, the token sale went live on Binance Launchpad platform and lasted for just 15 minutes, with over 50 billion tokens sold within that timeframe. Tron CEO and founder Justin Sun revealed that 23.76 billion BTT tokens were sold within 13 minutes and 25 seconds.
The ICO price for the token was 0.00012 USD per token but has now surged to trade at 0.001153 USD. Over the past 24 hours, BTT is up by more than 65 percent. The 24-hour trading volume for BTT is now over 580 million USD, with a total supply of 990 billion tokens.
BTT has been the best performing cryptocurrency over the past few days, with industry leaders like Bitcoin performing poorly. Bitcoin is up by 0.5 percent over the past 24 hours, with second-placed XRP down by less than 1 percent. Meanwhile, Ethereum is up by 0.3 percent over the past 24 hours.
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