BitTorrent [BTT] prices on the rise following airdrop
BitTorrent [BTT] token prices are soaring following the airdrop to Tron customers. Yesterday was the first day of BTT airdrops. These airdrops are scheduled to happen every month until February 2025. The airdrop is being conducted to drive the adoption of BitTorrent. The first airdrop distributed 1.1% of the total token supply of 990,000,000,000. Therefore, approximately 10.89 Billion of BTT token were airdropped to Tron holders.
Justin Sun, the Tron CEO tweeted that BTT tokens are on the way to everybody’s wallet. He also said that some holders might experience delays due to a large volume of tokens being given away.
The BitTorrent Foundation completed $BTT Airdrop for $TRX holders. If your tokens are on an exchange or a wallet supporting our airdrop program they are on their way. Please be patient, it may take some time given the volume airdropped ✌️
— Justin Sun (@justinsuntron) February 12, 2019
BTT token prices are soaring in the market. Following the airdrop, the coin prices shot up by 20%. There is a positive investor sentiment for the crypto token in the market. The crypto is currently trading in the bullish territory. The virtual asset is facing resistance at $0.0010. At the time of writing, BTT is exchanging hands at $0.00098 and is rising against USD by 20.33%.
BitTorrent is peer to peer [P2P] file sharing system. File sharing involves uploading and downloading a part of a file over a peer to peer network. Reportedly, file sharing accounts for 3% of downloading and 22% of all the upload traffic. BitTorrent boasts 97% of the file-sharing traffic.
BitTorrent was acquired by Tron in June 2018. The acquisition gave the file-sharing company an upper hand. BitTorrent in collaboration with Tron announced the launch of BitTorrent Speed, a new blockchain application for faster upload and downloads of files. The application is supported by BTT which can be shared between users.
BitTorrent is a reason for worry for mainstream digital content platforms like Netflix and Amazon. Currently, Netflix possesses the lion’s share of downstream traffic in the market, almost 15%. However, BitTorrent being a free platform that allows peer to peer file sharing with faster downloads and improved performance has the potential to become Google of the digital content arena.
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