Cryptocurrencies saw a rally in the prices of most major cryptocurrencies on May 26. Tron’s BitTorrent [BTT] saw a massive rise in its price, leading the token to move up to the 31st position on CoinMarketCap. Justin Sun, Chief Executive Officer [CEO] of Tron and BitTorrent, had announced that BTT will enter the top 30 by the end of May.
Sun and Tron look set to achieve this as the CEO announced that BitTorrent File System [BTFS] will be launched on May 30. The CEO took to Twitter and said,
“Welcome to the next generation of decentralized storage systems! #BTFS will be the largest decentralized P2P storage network with close to 100 million @BitTorrent user nodes, over 1000 #TRON full nodes, 27 SR nodes, and global #TronGrid nodes. 3 days left! Are you excited?”
BTT had been stagnated for the past few weeks when the market was surging. However, this news has caused the community to support the token by taking it up the ranking ladder. Misha Lederman, a prominent proponent, also shared that BTT was ranked seventh on the list of tokens on CoinmarketCap. Lederman added,
“With its ICO raising $7 million 3 months ago, @BitTorrent now has a market cap of $340 million
Realizing that BitTorrent Speed, BitTorrent Live & #BFST launching very soon is mind-boggling”
Tron and BitTorrent [BTT] appeared to be dormant over the past few weeks. However, recent updates in their ecosystem have spurred it into action. Following these announcements, a new blockchain, Beatz Coin, announced integration of the token on its platform.
BTT is closer to realizing Sun’s claim of BTT being included in the top 30 as it was valued at $0.0016, with a market cap of $342.23. The token surged by 58.47% over the past week and continued to grow by 18.77% over the past 24 hours. However, the token was starting to fall by 1.46% within an hour, at press time.
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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.