What We Know About BitTorrent’s BTT Token Airdrop and Bitcoin’s Price Performance?
Bitcoin has been in a bear market since the end of 2017 when it reached $20,000. Back in December 2018, it dropped under $3,250 for the first time in more than a year. What will happen with Bitcoin in the future? Is Bitcoin overvalued or undervalued?
Another important thing to mention is related to BitTorrent and its BTT token. Tron (TRX) holders are currently waiting for the first BTT airdrop on Monday, February 11. These airdrops will be happening the 11th of every single month for the next six years. However, they will end on February 11, 2025.
Due to this airdrop, it is expected for users to start purchasing Tron and start receiving BTT tokens each time there is an airdrop. How the price of these digital assets will behave in the future remains to be seen. Although trade volume could increase, the price of the BTT token could eventually decrease.
There are currently several exchanges that are supporting these airdrops, some of them are OKEx, Huobi, Bithumb, Upbit, Gateio Bibox, BitForex, Coinsuper, Kucoin, Bittrex International and many others.
BTT is the token that will be improving and powering the BitTorrent platform that was acquired by Tron in 2018. The token was announced earlier this year and the Initial Coin Offering (ICO) took place on the Binance Launchpad platform a few weeks ago.
The price of the BTT token and Tron will clearly be influenced by what happens to Bitcoin, the largest digital currency in the market. In general, when Bitcoin falls, most of the digital currencies follow. The same happens when Bitcoin remains stable or it grows.
There are several individuals that believe that Bitcoin could be traded under $3,000 in the near future and reach new lows. Even when Bitcoin spiked around 8% in the last 24 hours, there are some analysts that are predicting a lower Bitcoin. That means that if Bitcoin falls, it might be possible to see BTT and Tron falling as well.
At the time of writing this article, Tron is the 8th largest digital currency in the market. Each coin can be bought for $0.027 and it has a market cap of $1.81 billion. Meanwhile, BTT is being traded around $0.000813 and it has a market cap of $804 million.