BitTorrent Token Up 600% in a Week Since ICO

BitTorrent Token BTT ICO Binance cryptocurrency

The BitTorrent Token (BTT) has increased in value by up to 600 percent since the launch of its initial coin offering seven days ago, delivering substantial returns to early investors.

Just under 60 million tokens were issued through the Binance token sale platform, launching at $0.00012 per token. The token is now trading at $0.000798.

The initial sale sold out within just a few minutes, leading to complaints from those unable to access tokens on the day. Since then, BTT delivered an airdrop of 5,000 tokens to those users who were locked out of buying in the initial sale due to technical problems.

Last year, peer-to-peer sharing platform BitTorrent was purchased by Tron, with plans underway for integrating cryptocurrency within the BitTorrent platform.

Today, BTT is available on a number of different token exchanges, with Binance and UpBit accounting for the most significant portion of trading volumes. At press time, BTT daily trading volumes were in the region of $270 million.

BitTorrent handles 22 percent of all internet traffic, and will become by far the largest network ever to apply cryptocurrency technology, delivering access to a mainstream global audience.

The results are impressive compared to the price of bitcoin, which has increased by a mere three percent over the same period. Even by the standards of other ICOs, the performance of BTT has set new benchmarks.

ICOs and token sales exploded in 2017, with a number of ambitious projects launching with initial coin offerings to help get their developments off the ground.

However, since then, a number of ICOs have failed, leaving early investors significantly out of pocket. Some have even been found to have been fraudulent, with regulators now pursuing those responsible.

The success of the BitTorrent Token is the latest good-news story from the model, with Day 1 investors likely to be very satisfied with their return on investment so far.

With returns reminiscent of the 2017 bitcoin boom, BTT investors will be hoping this trend continues in the weeks and months to come.