Rise and Fall of BTT Token
The BTT token, which powers BitTorrent’s decentralized peer-to-peer file-sharing applications, experienced a significant surge of over 75% on Wednesday. This surge was triggered by an announcement that the Tron network, where BTT is issued as a TRC-20 token, had reached an impressive milestone of 200 million users.
The price of BTT reached a high above $0.0000011 on Wednesday, marking its highest level since May 2022. However, the token has since retraced around 30% from these highs and is currently trading around $0.0000008. As a result, investing in BTT remains a highly risky endeavor.
Furthermore, concerns about the token’s utility, as it claims to aim to power a healthier BitTorrent protocol, could continue to discourage potential investors.
