BitTorrent (BTT) ICO raises $7 million in under 20 minutes

28 Jan, 2019 | Updated: 28 Jan, 2019
by David Robb
Breaking News
BitTorrent (BTT) ICO raises $7 million in under 20 minutes

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.

Read more: Airdrop organized for traders who couldn't access BTT token sale

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.

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. 

Read more: What does the launch of BitTorrent's BTT mean for TRON?

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.

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Read more about: Binance TRON (TRX)


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