TRON (TRX) and Binance’s BNB Coin Make Gains Ahead of BitTorrent BTT Token Sale
The BitTorrent token sale is going live tomorrow and ahead of this event, the two token offerings of TRON and Binance Coin have seen impressive gains, showing the amount of momentum that is building up for the upcoming launch.
TRX is ranked 6th by coinmarketcap and has surpassed Stellar (XLM) and Litecoin (LTC). It has also surpassed Tether (USDT) and could potentially surpass Bitcoin Cash (BCH) in the near future which is impressive considering the coin only broke into the top 10 cryptocurrencies late last year.
As for BNB, it is just outside the top 10 in the 12th spot and has surpassed IOTA (MIOTA). It is now looking to surpass Cardano (ADA) in the next few hours once the sale goes live.
The Upcoming Sale
The impressive gains being seen by both coins can be put down to the upcoming BitTorrent (BTT) token sale which goes live on the Binance Launchpad form January 28, 2019, till February 3, 2019.
The sale will begin at 3 pm (UTC) and will take place in two sessions where investors can invest with either TRX or BNB.
The two sessions will occur in this format:
TRX Session – 35,640,000,000 BTT (60% of the public sale)
BNB Session – 23,760,000,000 BTT (40% of the public sale)
In both cases, there is a limit of $20,000 that any single investor can make with either token. The minimum amount, however, is 100,000 BTT and a single BTT token is worth about $0.000177. While the sale is supposed to last till February 3rd, it could be terminated early if the hard cap is reached before then. Once tokens are paid for, they will be distributed within 15 days and there will be an additional BTT token airdrop on February 11, 2019.
There are many factors that cause the price and market cap of a coin to go up and one of them is being tied to a highly anticipated project such as these. Because the tokens will be paid for in BNB and TRN, investors seem to be stocking up on their coins ahead of time.
The demand is so high that it caused the coins in question to surpass industry heavyweights such as Stellar and Litecoin. In the next few hours leading up to the sale and during the sale itself, it is not impossible that the coins will rise even higher.