Tron’s BitTorrent [BTT] announces fifth airdrop for 11 June; token’s price tumbles in the market

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Tron’s BitTorrent token [BTT], despite being launched only a few months back, has successfully climbed up the ranking ladder of CoinMarketCap. On 11 June, BitTorrent Foundation is set to carry out its fifth airdrop wherein Tron [TRX] holders will receive part of 990,000,000 BTT. BitTorrent Inc. announced the airdrop through a Twitter post,

“Are you ready for our 5th #airdrop? ☄️ On June 11th at 00:00 UTC we will reward TRON $TRX holders with 990,000,000 $BTT. Learn more about our airdrop program, and the exchanges & wallets supporting it!”

The Foundation had organized its first airdrop on February 11, 2019, when Tron’s block height reached 6.6 million. During that instance, 10.890 billion BTT corresponding to its 1.1% total supply were airdropped. The Foundation had later announced 12 such airdrops and added,

“In 2020, the BitTorrent Foundation will airdrop 12,870,000,000 BTT, corresponding to 1.3% of the total supply, and over the next six years, the percentage airdropped will increase by 0.1% per year, reaching 1.7% in 2025.”

The BTT ecosystem welcomed such developments towards increasing the adoption of the token, by making BTT token available to uTorrent and BitTorrent users. BitTorrent Speed, another application will see its launch soon and would help users gain BTT in exchange for seeding and bandwidth to help them with faster downloads. However, guest access to this application did not clarify the system of how users can earn more BTT and failed to impress them with its speed. Twitter user, @_theperfesser, who used this app said that the download without Speed was ‘slightly faster’

“These speeds did not coincide with the seemingly random speed figures shown in the dashboard. This is consistent with my assumption that this test version was UI focused and that maybe the Dashboard is just simulating the functionality for UX testing purposes.”

BTT was falling by 7.68% over the past day and was valued at $0.0011, with a market cap of $250 million. The 24-hour trading volume of the coin was noted to be $55.111 million, as it fell by 25.59% over the past week and continued to tumble by 0.49% within the 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.

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