BitTorrent Price Continues to Fall Due to a Reduced Interest in the BTT Token Asset
The popular BitTorrent Token (BTT) that was launched by the BitTorrent Foundation a few months ago, seems to be falling in price without finding a bottom. According to CoinMarketCap, since February 5, the digital asset lost more than 60% of its price in terms of BTC. Its USD price has also fallen 40% during the same period of time. Should investors be worried?
BitTorrent Keeps Falling
BitTorrent has been released to the market in order to tokenize the BitTorrent platform and it is based on the Tron (TRX) blockchain. This token was launched through the Binance Launchpad platform for digital assets and has attracted a lot of attention. Indeed, many individuals that wanted to purchase the asset couldn’t do it and the available tokens were sold out in less than 15 minutes.
Although the digital asset has been promoted during the last few months, it failed to captivate an audience for a long period of time. BitTorrent Token seems to be following a similar trend as Bitcoin Cash (BCH) after it was launched.
Nonetheless, Bitcoin Cash was able to recover part of its price at the end of the bull market that the whole cryptocurrency space experienced. In the last months, altcoins have been growing at very fast rates. Litecoin or Binance Coin have more than doubled since the beginning of the year, but BTT seems to be following a different path.
AtomicWallet is also planning to do a BTT airdrop to users that hold at least 100 in TRX in the Atomic wallet. Although this could be negative for BTT’s price, it could help increase awareness about the virtual currency.
— AtomicWallet.io (@AtomicWallet) April 9, 2019
According to the Twitter users Tron Fam, BitTorrent Token will be helping individuals enter the crypto market. Misha Lederman, the co-founder of IAmDecentralized says that he believes that Tron will be among the top 5 by 2020 and one of the reasons will be related to the speed of BitTorrent.
2. #BitTorrent Speed
3. BitTorrent Live
4. CoinPlay DApp store
5. Odyseey 3.5 upgrade
6. SunNetwork layer 2 100x scalability
7. #TRX holders use their coin & tokens#IAmDecentralizedhttps://t.co/oQiWmaznts
— Misha Lederman (@mishalederman) April 9, 2019
It will be important to see how Tron improves and behaves in the market in the near future to understand whether it will keep falling or not.