BitTorrent Chain Price Overview
The current BitTorrent Chain price is EUR. The price has changed by EUR in the past 24 hours on trading volume of EUR. The market rank of BitTorrent Chain is based on a market capitalization of EUR. BitTorrent Chain has a circulating supply of . The highest recorded BitTorrent Chain price is EUR. And the lowest recorded BTTC price is EUR.
First launched in 2001, BitTorrent enables the exchange of files between untrusted parties. The torrent platform was purchased in 2018 by the TRON Foundation and has since integrated blockchain technologies into its protocol to become much more decentralized. BitTorrent offers torrent download clients for PC and mobile, as well as browser-based torrent streaming. A significant percentage of the world’s internet traffic is moved through the BitTorrent protocol each day.
The BitTorrent Token (BTT) is a TRC-10 standard utility token issued on the TRON blockchain. It powers decentralized applications and can be used to access faster download speed. The price of BTT has changed significantly since the token joined the cryptocurrency market and if you want to know why then you’re in the right place. We’ve compiled everything you need in order to get a better understanding of BTT price – as well as the factors which influence it.
BitTorrent Price History
BTT hit the crypto market at the end of January 2019 trading at $0.0004. Its price doubled in the first few days of February but then gradually declined for the next three months until reaching a low of $0.0006 in May. After surging to nearly a fifth of a cent that month, prices fell again and the bearish trajectory was maintained for the rest of the year. By the end of 2019, BTT was worth slightly less than $0.0003, having lost 28% of its value since launch.
The start of 2020 looked positive, as prices climbed to over $0.0006 by the middle of February. However, BTT bottomed out at $0.0001 a month later following a crash of 43% during a single day in March. The next five months provided steady gains and the token reached a peak of over $0.0005 in August. Prices then pulled back to $0.0003 in September and BTT was still trading at that level by the end of the year, meaning practically no change in price since the start of 2020.
The first few weeks of 2021 saw gradual growth, before BTT price exploded in February, surging more than 300% in two days to a high of $0.0020. This was also when the BitTorrent market cap surpassed $1 billion for the first time. After a month of consolidation, prices continued to skyrocket in March, culminating in a peak on April 5 at BTT’s all-time high of $0.0136. By that point, BitTorrent had a market cap of over $10 billion. Prices then immediately began to fall, dipping below half a cent later that month. There was further decline in May as BTT touched lows of $0.0026 during a crash of more than 50% within a single day.
Analyzing BitTorrent Price History
Bitcoin price history can be analyzed with many of the same techniques as the stock market. Technical analysis involves using various indicators while studying price charts in order to make sense of previous price movements. With BTT, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of traders buy or sell their coins on exchanges.
Fundamental analysis, on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. BitTorrent raised more than $7 million through token sales, and TRON, which acquired the protocol in 2018, is one of the better-known projects in the blockchain space, having raised $70 million through its own initial coin offering the year before. BitTorrent already has over 2 billion users and its protocol is used by Netflix, Facebook, and Google. These could potentially be good signs for the fundamental BitTorrent value.
Broader market trends have also played a role in the price history of BTT. Its surge early in 2021 wasn’t unique – the entire crypto market pumped around this time. Bitcoin was in the midst of a major bull run then, and with such strong market dominance, any significant price movement for Bitcoin often impacts other cryptocurrencies.
BTT’s huge single-day drop in March 2020 came as economies and borders were closing down around the world in response to the COVID-19 pandemic. The effect of this was felt by the whole cryptocurrency sector and the entire stock market, which experienced the biggest single-day crash since 1987.
The sudden crash in May 2021 was also market-wide, affecting every single major cryptocurrency. Various contributing factors have been suggested, including comments made by Elon Musk, a crackdown by Chinese authorities, liquidations, and a healthy market correction.
The overall price trend of BTT tends to follow what’s known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price before doubt and disillusionment set in and result in a crash.
Factors Influencing The Price of BitTorrent (BTT)
A variety of different things can affect the BitTorrent (BTT) price, including project news and developments, the flow of assets on exchanges, public sentiment, and emerging trends in the wider crypto and global economies.
BTT has a capped max supply of 990 billion tokens, making it a scarce asset, like Bitcoin, and therefore potentially a good store of value in the long term. Tokens will be emitted according to a tapering release schedule over the course of several years. Once all BTT have entered the circulating supply, any rise in demand will lead to a rise in price.
Demand for BTT is created by the BitTorrent Speed feature, which is available for BitTorrent and the µTorrent client. Users can pay uploaders with BTT in exchange for faster download speed. This could incentivize more BitTorrent users to buy BTT.
The earning and spending opportunities for BTT are still growing. These will include the BitTorrent File System, a decentralized filing system for the peer-to-peer storing and sharing of digital content. BTT and staking will be introduced to the BTFS ecosystem to ensure a fair and efficient file sharing system. Also, the DLive video streaming service will introduce BTT to power virtual gifting, subscriptions, and viewer rewards. The addition of BTT to these and future projects, as well as the growth in user base of said projects, would likely drive demand for the token and positively impact its price.
Live BitTorrent Value and Market Cap
The market price of BTT varies from moment to moment as it’s dictated by the balance of buyers and sellers on exchanges, which is in constant flux.
Given BTT’s volatility, its current price can change by a large amount in a very short space of time. The market cap of BitTorrent is equal to the price of BTT multiplied by the number of BTT in the circulating supply.
BitTorrent Price FAQ
What Is the Highest Price of BitTorrent Chain in EUR?
BitTorrent Chain price history shows that BTTC has recorded a peak value of EUR.
What Is the Lowest Price of BitTorrent Chain in EUR?
Kriptomat data confirms that EUR is the lowest recorded BitTorrent Chain value.
How Can I Buy BitTorrent Chain?
There’s no need to consult an expert to tell you how to buy BitTorrent Chain. It’s fast and easy to buy BTTC at Kriptomat. BitTorrent Chain is available for immediate purchase at the current BTTC price quote of EUR. Current prices are always displayed in the BTTC chart.
What Is the Current Price of BitTorrent Chain in EUR?
BitTorrent Chain is available for immediate purchase at Kriptomat. The current price is EUR.
How is the price of BTT calculated?
BTT’s price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying BTT than selling it, the price goes up, and when more are selling than buying, the price goes down.
Why is the price of BTT different on each cryptocurrency exchange?
BTT’s price is based purely on trading as there is no standard global BitTorrent price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affect the price.
What will BTT be worth in the future?
It’s impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future value of BTT. However, the introduction of BTT tokens to projects like BTFS and DLive could drive up demand and lead to a higher BTT price in the future.
The price of BitTorrent Token has changed significantly since it joined the crypto market, going from lows of a hundredth of a cent to highs of over a cent. Its journey hasn’t been smooth, however, as BTT’s volatility has led to surges and crashes along the way.
Many different factors have played a role in determining the BitTorrent price, including demand created by the BitTorrent Speed feature, the addition of BTT to more projects, and trends in the rest of the cryptocurrency market and wider economy. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.
If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of BitTorrent and cryptocurrencies!