The CEO of Tron and BitTorrent, Justin Sun strongly stated that BTT will enter the top 30 and TRX will enter the top 10 by June and now it is gaining momentum. The of the digital asset is soaring this weekend having realized 26.76% in gains in the last 24 hours. This development now makes the formally ranked number 40 digital asset by market capitalization, the number 39 largest cryptocurrency. Meaning BitTorrent moved upwards in the top 100 standings by one step.
In addition, going by Sun’s tweet about BitTorrent’s launch on the Tron network that will occur in Q2, of this year, we expect big things for the asset class. This prediction Sun gave about BitTorrent is similar to the time he predicted that TRX and BTT will move into the top 30 and top 10 positions respectively.
While Q2 of 2019 is already nearing its end, it is exciting to see whether BitTorrent token price will force it into the top 30 digital assets by market cap.
It should be recalled that Sun acquired BitTorrent last year, after which, the Tron foundation announced the BTT airdrop for holders of TRX in February and May. On the said dates the firm revealed that the completion of the 4th BTT airdrop. When you assess the present scenario with Sun’s challenge, it is beginning to look like the Tron founder had a greater plan for TRX and BTT.
Bittorent Token Price Analysis – Bittorent Token Price PredictionThe entire crypto market was in bullish mood days earlier, but in the last few days, the price of Bitcoin took a slight hit and lost over $1000 from its recently attained levels. This had an effect on the rest of the top 10 digital assets. The likes of XRP, Litecoin, BCH, Cardano and ETH to mention a few were affected by the glitch in Bitstamp exchange that saw BTC drop in the last two days. Now BitTorrent token, a digital asset that is currently outside the top 30 digital assets by market capitalization is said to be rising. The TRX coin appears to have found a lifeline and is performing well.
Nevertheless, as of press time, the price of BTT entered the top 40 and is currently holding the number 39 spot with an average trading volume of $223,471,253. The trade volume is soaring with 29.78% gained in the last 24 hours. According to CoinMarketCap the price of BitTorrent stood at $0.001076 against USD.
While the price of BitTorrent improved its position from being a top 50 coin to a top 40, TRX coin is still struggling to enter the top 10 by market cap. At the time this content was published, the price of Tron and its market cap places it at number 11 with a trading volume of $1,811,010,850. Although, it has to be said that the price of Tron just BTT, soared by 3.58% in the last 24 hours.
Bittorent Token News – The Fourth Airdrop of BTT
Sun’s team recently completed its fourth airdrop of BTT. Airdrops have been scheduled each month until February 2025, with the amount distributed increasing on a yearly basis.
If BitTorrent Token does crack the top-30, its market cap will likely increase to more than $300 million. If the crypto rally continues to heat up, a top-30 ranking could be worth substantially more, which means new highs for the BTT price.
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Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.