BitTorrent (BTTC) is a cryptocurrency token built on the TRON platform, launched in December 2021. It is closely tied to the widely-used peer-to-peer file-sharing protocol, BitTorrent, aiming to decentralize and incentivize the global digital content ecosystem.
This article provides a detailed overview of BTTC’s market performance, historical data, and essential insights for those interested in this digital asset.
Market Capitalization and Price Analysis
BitTorrent's market capitalization is a key metric for understanding its relative size in the cryptocurrency market. It is calculated by multiplying the current price of BTTC by its circulating supply.
As of the latest data, BitTorrent has a market cap of approximately $605 thousand, ranking it #1726 among thousands of cryptocurrencies. It's important to differentiate between circulating and fully diluted market cap (FDV). The FDV is a theoretical value calculated using the total supply (or max supply if total is unavailable) multiplied by the current price, which for BTTC would be around $605 million.
Analysts often project potential growth by considering multiples of the current price (e.g., 2x, 10x) and modeling what the resulting market cap would be and how it would then compare to other established cryptocurrencies.
Historical Performance and Key Metrics
BitTorrent reached its all-time high (ATH) price of $0.000002224096 on April 3, 2022. Since that peak over three years ago, the price has fluctuated significantly.
The token’s lowest price post-ATH was $0.000000363875**. From that low, the price has seen a recovery of approximately 67.94%. Over the past 52 weeks, BTTC has traded between a low of **$0.0000006 and a high of $0.0000019.
When compared to other cryptocurrencies launched in the same year (2021), BTTC exhibits below-average trading volume. The average trading volume for the 3643 coins launched that year is around $298K, while BTTC's volume is typically near $233K.
In the "Events & Entertainment" category, BitTorrent holds the #36 position by market capitalization. For a deeper dive into its historical data and volatility, you can explore more strategies.
Project Background and Development
BitTorrent did not raise funds through a traditional crowdsale or initial coin offering (ICO). The project was integrated into the broader TRON ecosystem, leveraging its existing user base.
Significant milestones in BTTC’s development include:
- December 1, 2021: Official launch of the BTTC token on the TRON platform.
- January 12, 2022: Commencement of the initial airdrop to TRON (TRX) holders.
- February 14, 2022: Listing of BTTC on several major cryptocurrency exchanges, increasing its accessibility.
- April 7, 2022: Integration of BTTC into the BitTorrent Speed application, allowing users to earn tokens for sharing files and bandwidth.
- June 22, 2022: Announcement of a partnership with a decentralized storage network, expanding its utility.
- September 10, 2022: Launch of a staking program, enabling token holders to earn rewards.
Frequently Asked Questions
What is the current price of BitTorrent (BTTC)?
The latest price for one BTTC coin is approximately $0.0000006. The price has seen modest fluctuations, with a 4% increase in the last 24 hours and relative stability over the past week.
What was the lowest price ever for BTTC?
The lowest price recorded for BTTC was $0.0000004, which occurred in October 2023, about a year ago. This represents a significant point of support from which the price has rebounded.
What was the highest price ever for BTTC?
The all-time high price for BitTorrent was $0.0000022 on April 3, 2022. The token has not revisited this price level since that date.
What is BitTorrent's market cap ranking?
As of the latest data, BitTorrent is ranked #1726 based on its market capitalization of $605 thousand, which is derived from its circulating supply. Its fully diluted valuation is significantly higher.
How does BTTC's trading volume compare to similar coins?
BTTC's daily trading volume tends to be below the average for cryptocurrencies launched in 2021. While the average volume for its cohort is around $298K, BTTC typically sees about $233K in volume, indicating a quieter but stable market.
What is the main utility of the BTTC token?
The BTTC token is primarily used within the BitTorrent ecosystem to incentivize users for sharing files and contributing bandwidth. It is also integrated into various decentralized applications (dApps) on the TRON network. To view real-time tools for tracking its utility and adoption, many platforms offer advanced analytics.