BitTorrent Token (BTT) up 20% - what's behind the rally?

21 May, 2019 | Updated: 21 May, 2019
by David Robb
Price Action
BitTorrent Token (BTT) up 20% - what's behind the rally?

BitTorrent Token (BTT) has seen some impressive gains in the last 24 hours, increasing in price by almost 30 percent before retracing back to its current position, up around 20 percent for the 24h period. Some positive fundamentals may have buoyed BTT up even further than other recovering cryptos, to cap off one of its most positive weeks. 

BitTorrent Token (BTT) has seen double-digit gains several times in the last week or so, and it has continued to rise relatively consistently after breaking through its all-time high pice on May 13. Its market cap currently stands at $262 billion, and it is trading at around $0.00123, after peaking at $0.00134 on Binance a few hours ago.

BTTUSDT chart provided by TradingView

There are a few factors that could explain its most recent growth. After first being announced at the start of the week, integration of the BTT token and wallet with the µTorrent network has now been tested successfully, and it will apparently be available from the start of June. 

On the technical side, popular trader TheCryptoDog has seen some good omens in the BTT / BTC charts, and believes the recent pumps are just the start of some long-term positive momentum.

A recent scheduled airdrop of BTT to Tron (TRX) holders may have also contributed to increased trading. Also, the BeatzCoin newtork recently integrated the token into its VibraVid platform as well as organizing a BTT giveaway to celebrate. 

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