BitTorrent Price Surges 49% After Mainnet Announcement

BitTorrent Price Surges 49% After Mainnet Announcement
  • BitTorrent (BTT) price has surged 49% in less than 24 hours.
  • The price increase is due to BitTorrent Chain’s imminent launching.
  • BTT tokens will be redenominated and swapped at a ratio of 1:1,000.

BitTorrent (BTT) is having a price surge ahead of other cryptocurrencies like Bitcoin and Ethereum. Specifically, BTT price has seen an increase of at least 49% in less than 24 hours.

BTT/USDT 1-hour chart (source: TradingView)

As seen on the chart above, the BTT price was trading at $0.002. Within an hour, the price shot up to the $0.003 range.

The BTT price surge is due to the announcement of BitTorrent’s own blockchain, specifically called BitTorrent Chain.

According to Tron CEO Justin Sun, BitTorrent Chain will become the world’s first heterogeneous cross-chain interoperability protocol. In simpler terms, BitTorrent Chain will be compatible with other blockchains such as Ethereum, Binance Smart Chain, and Tron, to mention a few. The mainnet will launch on December 12.

Meanwhile, existing BitTorrent (BTT) will be redenominated and swapped at a ratio of 1:1,000. This means that the total supply of the new BTT will be 990 trillion. At the moment, Tron owns and manages BitTorrent.

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