The online traders who were propelling the meme-inspired cryptocurrency, DogeCoin, to the top of the cryptocurrency rankings are now concentrating their efforts on another, lesser-known digital currency.
The value of BitTorrent Coin (BTT), also known as BitTorrent Token (BTT), has steadily increased over the last several days. The quick increase in the value of the digital currency has some traders speculating it to be the next DogeCoin. BTT is a fresh new cryptocurrency first introduced in January of this year.
While the ascent of DogeCoin has captivated the attention of the internet, the popularity of BitTorrent currency has skyrocketed in the last 24 hours. On Monday, the value of the digital currency increased by 150 percent. It reached an intraday high of $0.0011 on the same day that it had increased by 150 percent.
Prior to the massive increase in value, the cryptocurrency was trading at $0.00053 per unit. This is the second-highest increase in the cryptocurrency’s worth since the beginning of 2019. During that time, the cryptocurrency’s value reached $0.0018 on the market.
On the other hand, there has not been much discussion regarding the BTT’s pump on the internet as of yet. There has been no discussion of the pumping of BitTorrent Token on the famous Reddit boards. These were highly active during the pumping of DogeCoin and Ripple XRP. There is a possibility that the rise was prompted by private groups of traders. These traders have not yet made their intentions known publicly across the various social media sites.
The TRON Foundation and the BitTorrent Foundation collaborated on the cryptocurrency’s launch, which took place in 2019. The virtual currency, also known as the TRC-10 Token, is based on the BitTorrent protocol. This was essential in the early development of cryptocurrency in the first place.
At the conclusion of its initial coin offering, the digital currency had a six-fold price increase. At the same time, it reached an all-time high of $0.0018.
BTT Coin Forecasts
The value of the BitTorrent cryptocurrency has stayed stable for a long time. There were just a few instances of a price increase. The cryptocurrency traders and investors are cautious about purchasing BitTorrent coins. This is due to their uncertainty about whether the coin’s value will increase significantly in the near future.
However, only a small number of analysts anticipate that the value of the BTT will rise in the following years. The media’s attention is critical to the rise of any cryptocurrency. In the case of DogeCoin, if someone publicly supports the cryptocurrency, its price will almost surely skyrocket.
At the time of writing, the price of the BTT is approximately $0.00097. It has a total market capitalization of $741 million at the current time.