The current price of Bittorrent is $0.0000010772. Since 00:00 UTC, Bittorrent has decreased by -2.36%. It currently has a circulating supply of 968,246,428,571,000 BTT and a maximum supply of 990,000,000,000,000 BTT, giving it a fully diluted market cap of $1.04B. At present, the Bittorrent coin holds the 0 position in market cap rankings. The Bittorrent/USD price is updated in real-time.
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
BitTorrent (BTT) is a digital currency that has rapidly gained popularity in the crypto market. It originated from the widely used BitTorrent network, which is known for peer-to-peer file sharing.
What is BTT?
BTT is a cryptocurrency introduced by BitTorrent in 2019. It functions as a payment method within the BitTorrent network, allowing users to purchase faster download speeds with BTT. It also serves as a means to reward individuals who contribute their storage capacity to the BitTorrent network.
As a TRC-10 token, BTT operates on the Tron blockchain. Tron is a blockchain platform engineered to provide scalability, decentralization, and high-performance capabilities.
The BitTorrent team
Bram Cohen and Ashwin Navin founded BitTorrent protocol and established BitTorrent, Inc in 2004. Following BitTorent’s acquisition by Tron, Justin Sun, founder of Tron, has since served as BitTorrent's CEO. As a young entrepreneur, Sun quickly rose to the limelight as one of the most accomplished personalities in the blockchain industry. The 53-man team currently involved in the technical aspects of the project, operations, and upgrades consists of engineers, and scientists mostly working out of the United States.
How does BitTorrent work?
BitTorrent operates by utilizing a decentralized network of nodes to store and index data. The data may include a wide range of information, including blog posts, social media updates, and financial transactions. The BitTorrent network utilizes a Proof of Stake (PoW) consensus mechanism to ensure security. This means nodes receive rewards for securing the network by staking BTT tokens.
Users can use BTT tokens to expedite their downloads when downloading files from the BitTorrent network. The speed of the downloads is directly proportional to the number of BTT tokens a user stakes.
BitTorrent's utility token: BTT
BTT is the utility token for the BitTorrent network, operating on the Tron blockchain as a TRC-10 token. It functions primarily as a payment method to facilitate faster downloads on the BitTorrent network.
BTT tokenomics
The total supply of BTT tokens is 990 billion. Out of the total, 6 percent was sold during the initial coin offering (ICO), 2 percent was allocated to the BitTorrent team, and 9 percent was distributed among the seed investors. Over time, the remaining 83 percent of BTT tokens will be distributed through various methods such as staking, airdrops, and rewards for utilizing the BitTorrent network.
How to stake BTT
OKX provides a range of staking plans for BTT. To stake BTT on OKX, start by creating an OKX account. Once logged in, navigate to OKX Earn. Search for "BTT" on the search bar and select your preferred staking plan. Then, click Subscribe. The duration your BTT tokens will be locked depends on the staking plan you opt for. During this period, you will receive additional BTT tokens as rewards.
BTT’s use cases
BTT has several use cases, such as:
BTT can be used to purchase faster download speeds on the BitTorrent network.
Users can earn passive income in the form of BTT tokens by offering storage space for the BitTorrent network.
BTT can be staked to earn additional BTT tokens as rewards. Staking involves the act of locking up your BTT tokens on an available staking platform, such as OKX Earn, to receive token rewards.
Distribution of BTT
The BTT token distribution is as follows:
6 percent was sold during the initial coin offering (ICO) in January 2019.
The BitTorrent team received a 2 percent share.
Seed investors were given 9 percent.
The remaining 83 percent will be distributed gradually in various forms such as staking rewards, airdrops, and incentives for utilizing the BitTorrent network.
BitTorrent’s future expansion plan
The BitTorrent team plans to enhance the BitTorrent network by introducing new features and simplifying user participation. This involves enhancing compatibility with additional file formats, improving file search functionality, and streamlining file-sharing capabilities.
The BitTorrent team aims to enhance the utilization of BTT by expanding its acceptance as a payment method. One way to achieve this is by forming partnerships with merchants and simplifying users' purchasing process of BTT.
The team behind BitTorrent also plans to expand into new markets. This includes regions such as Asia, Africa, and Latin America.
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 1K new posts about Bittorrent, driven by 123 contributors, and total online engagement reached 85K social interactions. The sentiment score for Bittorrent currently stands at 75%. Compared to all cryptocurrencies, post volume for Bittorrent currently ranks at 4421. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Bittorrent.
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Posts
1,000
Contributors
123
Interactions
84,832
Sentiment
75%
Volume rank
#4421
X
Posts
870
Interactions
76,202
Sentiment
74%
BTT FAQ
What is BTT, and why is it important?
BTT is a cryptocurrency created by BitTorrent Inc. in 2019 to promote file sharing on the BitTorrent network. It is used as payment to facilitate faster downloads on the BitTorrent network. Additionally, it serves as a means to compensate storage providers for their contribution of storage space to the BitTorrent network.
What does the future hold for BTT?
As the BitTorrent network continues to expand, the demand for BTT will likely increase. The acquisition of the BitTorrent Network by TRON is a significant milestone, setting it apart from similar projects like IPFS and Storj. BitTorrent currently uses nodes in the BitTorrent ecosystem and TronGrid. To put this into perspective, TronGrid boasts of over 1,000 full nodes and about 30 super representatives. These massive capacities position BitTorrent as a formidable contender in the decentralized storage race.
What is the BTT price prediction?
While it’s challenging to predict the exact future price of BTT, you can combine various methods like technical analysis, market trends, and historical data to make informed decisions.
How much is Bittorrent worth today?
Currently, one Bittorrent is worth $0.0000010772. For answers and insight into Bittorrent's price action, you're in the right place. Explore the latest Bittorrent charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Bittorrent, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Bittorrent have been created as well.
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