BitTorrent (BTT) is one of the most recognized tokens in the decentralized file-sharing space. As of the latest data, the live BitTorrent price stands at $0.0000006, with a 24-hour trading volume of $10.26 million. The token’s value has seen minor fluctuations, declining by 0.05% in the past hour and 0.54% since the previous day. With a circulating supply of 986.06 trillion coins and a maximum supply capped at 990.00 trillion, BitTorrent’s market capitalization is approximately $608.35 million.
What Is BitTorrent (BTT)?
The BitTorrent protocol was first introduced in 2001 by Bram Cohen and David Harrison. It rapidly became one of the most successful peer-to-peer (P2P) file-sharing systems globally, amassing over a billion users. In 2019, the project expanded its utility by launching the BitTorrent Token (BTT) on the Tron blockchain as a TRC-10 standard token.
BTT is designed to create a token-based economy that rewards users for sharing network resources. Its primary application includes incentivizing faster download speeds and encouraging users to continue “seeding” files—keeping them available for others to download. This approach enhances the overall efficiency and reliability of the BitTorrent network.
Market Capitalization of BitTorrent
The current market capitalization of BitTorrent is approximately $606.06 million. Market cap is a key indicator of an asset’s market value, calculated by multiplying the current price by the circulating supply. A higher market cap generally suggests that the asset is widely held and valued by investors.
Trading Activity and Volume
Over the past 24 hours, around 16.70 trillion BTT tokens were traded, equivalent to a trading volume of $10.26 million. This level of activity reflects ongoing interest and liquidity in the market, though the token has experienced a slight decrease in trading momentum recently.
Current Price and Valuation
At the time of writing, one BTT token is priced at $0.0000006. Like many cryptocurrencies, its value is subject to market dynamics, including supply and demand, investor sentiment, and broader crypto market trends.
Circulating and Total Supply
BitTorrent has a circulating supply of 986.06 trillion tokens. The maximum supply is fixed at 990.00 trillion, meaning almost all tokens are already in circulation. This near-full issuance can influence price stability and inflationary pressures.
Relative Market Position
BitTorrent (BTT) is currently ranked #134 among all cryptocurrencies by market capitalization. This ranking offers insight into its relative size and popularity within the expansive digital asset ecosystem.
How BitTorrent Token Works
BTT operates on the Tron blockchain, leveraging smart contracts to facilitate a decentralized bandwidth and storage marketplace. Users can earn BTT by sharing files and contributing bandwidth, while those seeking faster downloads can spend BTT to access premium speeds.
This model not only enhances network performance but also promotes a self-sustaining digital economy. The integration of blockchain technology aims to solve long-standing challenges in P2P networks, such as leeching (downloading without sharing) and low seed availability.
Use Cases of BTT
- Faster Downloads: Users can pay BTT to prioritize their download requests.
- Seeding Rewards: Individuals who keep files available for sharing earn BTT rewards.
- Resource Sharing: The token incentivizes contributions of bandwidth and storage, improving network health.
Factors Influencing BTT’s Price
Several variables can impact the price of BTT, including:
- Market Sentiment: General trends in the cryptocurrency market often affect altcoins like BTT.
- Adoption Rate: Increased use of the BitTorrent network and BTT token can drive demand.
- Technological Developments: Updates to the protocol or new features may influence investor confidence.
- Competition: Other decentralized storage and bandwidth projects may affect BTT’s market position.
Frequently Asked Questions
What is BitTorrent Token (BTT)?
BitTorrent Token (BTT) is a cryptocurrency launched on the Tron blockchain in 2019. It is used to incentivize users to share bandwidth and storage resources within the BitTorrent network, enabling faster downloads and sustained file availability.
How can I earn BTT?
You can earn BTT by seeding files—keeping them available for others to download—on the BitTorrent network. The longer you seed and the more bandwidth you contribute, the more BTT you can earn.
What is the maximum supply of BTT?
The maximum supply of BTT is 990 trillion tokens, with nearly all already in circulation. This fixed supply helps mitigate inflation and defines the token’s scarcity.
Is BTT a good investment?
As with any cryptocurrency, investing in BTT carries risks. Its value is influenced by market conditions, adoption rates, and technological developments. Always conduct thorough research and consider your risk tolerance before investing.
Where can I buy and trade BTT?
BTT is available on several major cryptocurrency exchanges. You can purchase, trade, and store BTT using supported wallets and trading platforms. 👉 Explore trading platforms for more details
How does BTT improve file sharing?
BTT introduces economic incentives for users to share resources, leading to faster download speeds and more reliable file availability. This tokenized model addresses traditional P2P challenges like low seed counts and slow transfers.
Final Thoughts
BitTorrent remains a pioneering force in decentralized file sharing, and the introduction of BTT adds a sustainable economic layer to its operations. While the token’s price is subject to volatility, its utility within the ecosystem offers real-world value. For those interested in decentralized networks or cryptocurrency investments, BTT represents a unique blend of technological heritage and innovative tokenomics.
Whether you're a long-time BitTorrent user or a crypto enthusiast, understanding BTT’s market dynamics and use cases can help you make more informed decisions. 👉 Learn more about crypto assets and market strategies