BitTorrent, often abbreviated as BTTC, is a cryptocurrency token built on the TRON blockchain platform. Launched in December 2021, it serves as the native utility token for the BitTorrent ecosystem, one of the world's largest decentralized file-sharing protocols. This article provides a comprehensive overview of the BTTC token, covering its market performance, key metrics, and essential information for investors and enthusiasts.
Market Capitalization and Price Analysis
Market capitalization is a crucial metric for evaluating any cryptocurrency's relative size and value in the digital asset space. For BitTorrent (BTTC), the market cap calculation uses the circulating supply of tokens multiplied by the current price per token.
BitTorrent's fully diluted market cap (FDV) represents the theoretical maximum valuation if all tokens were in circulation. This calculation uses either the total supply or, if unavailable, the maximum supply multiplied by the current market price. Understanding both circulating and fully diluted market caps provides investors with different perspectives on the token's valuation.
Price projections often include "x2" or "x10" scenarios that illustrate how the market capitalization would change if the token price multiplied by these factors. These comparisons help investors visualize how BTTC might rank against other cryptocurrencies under different growth scenarios.
Historical Performance and Price Trends
BitTorrent reached its all-time high price of $0.000002224096 on April 3, 2022, approximately three years ago. Since that peak, the token has experienced significant volatility. The lowest price point recorded after this high was $0.000000363875, representing a substantial decline from its peak value.
As of recent data, BTTC has recovered approximately 68.02% from its lowest point, demonstrating the volatile nature of cryptocurrency markets. Over the previous 52-week period, the token has traded between $0.0000006 and $0.0000019, showing both the potential opportunities and risks associated with this digital asset.
When compared to other cryptocurrencies launched in the same year (2021), BitTorrent demonstrates below-average trading volume. The average trading volume for the 3,643 coins launched in 2021 is approximately $361,000, while BTTC's trading volume sits at around $134,000, indicating potentially lower market activity relative to its peers.
BitTorrent Tokenomics and Supply Metrics
The BitTorrent token has a circulating supply of 990 trillion coins, which contributes to its current market capitalization of approximately $605 thousand. This positioning ranks BTTC at #1722 among all cryptocurrencies by market cap.
In the "Events & Entertainment" category, BitTorrent holds the #36 position by market capitalization, reflecting its niche within the broader cryptocurrency ecosystem. The token was not launched through a traditional crowdsale or initial coin offering (ICO), having raised $0 in its initial distribution phase.
The token distribution mechanism included an initial airdrop phase for TRON (TRX) holders that began on January 12, 2022, followed by listing on major exchanges starting February 14, 2022. These events marked important milestones in BTTC's market availability and accessibility.
Ecosystem Integration and Development Timeline
BitTorrent has progressively integrated its native token into various aspects of its ecosystem. On April 7, 2022, BTTC was integrated into the BitTorrent Speed ecosystem, allowing users to earn tokens for sharing files and contributing bandwidth to the network.
The development continued with a partnership announcement with a decentralized storage network on June 22, 2022, followed by a staking program announcement on September 10, 2022. These developments demonstrate the project's ongoing efforts to create utility and value for BTTC holders beyond mere speculation.
The connection to the TRON blockchain provides additional infrastructure support and potential synergies with one of the largest blockchain networks in the cryptocurrency space. This relationship may offer technical advantages and broader ecosystem integration opportunities.
Current Market Position and Ranking
As of recent data, BitTorrent maintains a market capitalization of approximately $605.3 thousand, securing its position at #1722 in the overall cryptocurrency rankings. This positioning reflects the highly competitive nature of the cryptocurrency market, with thousands of projects vying for attention and investment.
The relative ranking within specific categories, such as #36 in Events & Entertainment, provides additional context for understanding BTTC's niche positioning. This categorization helps investors compare the token against similar projects with related use cases and market focuses.
Market capitalization rankings fluctuate constantly based on price movements, token supply changes, and broader market conditions. Therefore, these rankings should be considered snapshots in time rather than permanent assessments of value or potential.
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Frequently Asked Questions
What is the current price of BitTorrent (BTTC)?
The current price for one BTTC token is approximately $0.0000006. The price has decreased by 0.76% in the last 24 hours but has shown a 4.36% increase over the past seven days. Price volatility is common in cryptocurrency markets, especially for tokens with smaller market capitalizations.
What was the lowest historical price for BTTC?
The lowest price recorded for one BTTC coin was $0.0000004 in October 2023, approximately one year ago. This represented a significant decline from its all-time high and reflected broader market conditions affecting many cryptocurrencies during that period.
What was the highest price ever achieved by BitTorrent?
The highest price ever recorded for BitTorrent (BTTC) was $0.0000022 on April 3, 2022. This price peak occurred approximately three years ago and represented the token's strongest performance since its launch in December 2021.
How is BitTorrent's market capitalization calculated?
BitTorrent's market capitalization is calculated by multiplying the circulating supply of tokens by the current market price. As of recent data, this results in a market cap of approximately $605.3 thousand. If calculated using the total supply instead of circulating supply, the market capitalization would be significantly higher at $605.3 million.
What blockchain platform does BitTorrent use?
BitTorrent (BTTC) is built on the TRON blockchain platform, leveraging its infrastructure for transactions, smart contracts, and network operations. This integration provides technical capabilities and potential synergies with the broader TRON ecosystem.
When was BTTC first launched?
The BitTorrent token was officially launched on December 1, 2021, marking its entry into the cryptocurrency market. The project subsequently implemented an airdrop for TRON holders in January 2022 and achieved exchange listings in February 2022.