BitTorrent continued by stating that BTT is making progress in the cryptocurrency industry, and JUST sustaining its stakes is yet another application.
Sun revealed on Twitter on August 10th that BitTorrent had now invaded the DeFi space. According to BitTorrent’s weekly report, there were 879751 real-time accounts.
BitTorrent Inc announced on Twitter on August 15th that BTT staking on the JUST platform will be available soon. The JUST platform will support BTT staking to generate the USDJ token and allow users to win JST incentives. BitTorrent continued by stating that BTT is making progress in the cryptocurrency industry. Also, JUST sustaining its stakes is yet another application.
BTT Enters Defi World
As we all know, BitTorrent is one of the world’s largest and most popular peer-to-peer communication protocols. This peer-to-peer application is owned by Justin Sun and acquired by TRON. It allows users to share and exchange data over the internet in a decentralized manner.
Sun revealed on Twitter on August 10th that BitTorrent had now invaded the DeFi space. To create DeFi projects on TRON, the P2P platform had entered into a strategic relationship with the JUST DeFi platform. He also stated that BitTorrent’s BTT would be one of the collateral tokens accessible on the JUST platform. It is also available on JST’s yield farming. This also meant that the JUST platform would receive the 2 billion BitTorrent users.
Soon following Sun’s announcement, BitTorrent’s Twitter handle tweeted that BTT will now be classified as a JUST staking asset. This means that BTT can be used as collateral on the CDP interface to mine USDJ, the JUST platform’s stablecoin.
The same day, BitTorrent coincidentally reached yet another significant milestone. More than 2 billion individuals have downloaded the platform. To recognize and commemorate this achievement, BitTorrent also offers a 15 percent refund on all Windows pro products purchased during this period.
Sun added in a thank-you tweet that their next goal is to enable all 7 billion users on the planet to benefit from decentralized money on the BTT platform as soon as possible.
According to BitTorrent’s weekly report, there were 879751 active accounts at the time of publication. There were 10482881 BTT transactions in the previous week, with 413235 new transactions added to the total. Furthermore, the price of BTT has climbed by more than 9.74 percent in the last year. It is presently trading for $0.000513. The market capitalization has increased to $505.8 million. It represents an increase of more than 181 percent over the previous week’s market capitalization ($279 million). The launch of BTT’s staking program and all of the other significant events that transpired this week all impacted the token’s price to some level.