The highly anticipated ICO for the new BitTorrent crypto token, BTT, has been completed. It succeeded in raising around $7 million in under 20 minutes, as reported by TrustNodes.
The token sale was organized through Binance's new fundraising platform, Binance Launchpad. Investors were able to trade either Binance Coin (BNB) or Tron (TRX) for BTT, the new TRC-10 token that has been created for the BitTorrent eco-system as part of BitTorrent's partnership with Tron.
Both sessions concluded. Took about 18 minutes, due to a system issue, would have taken 18 seconds otherwise. Demand was astronomical.— CZ Binance (@cz_binance) January 28, 2019
Demand for the token exceeded even the expectations of the Binance team, and was described as "astronomical" by the exchange's CEO Changpeng 'CZ' Zhao. Around $7 million was raised: 159,403,820.4 TRX, worth about $4.1 million at current prices, and another 433,382.4 BNB, worth around $2.7 million.
Another BTT ICO is scheduled for sometime in the near future. A private token sale was previously held, which raised around $20 million.
It's coming.— CZ Binance (@cz_binance) January 28, 2019
This latest batch of BTT tokens sold out in just 18 minutes, and the ICO would apparently have finished even faster if it wasn't for a technical issue with the Binance Launchpad system. Some users complained via Twitter that they were unable to access the platform.
Sorry, but it sucked, this is what I was observing all those minutes pic.twitter.com/OzFXCejFgN— I'am just a number (@iamjustanumber8) January 28, 2019
@cz_binance only your emploee got BTT?— Paul (@jeen_metal) January 28, 2019