On Wednesday, December 6, 2023, the value of BitTorrent's BTTC token—the file-sharing platform that TRON acquired in 2018—doubled. BTTC's price increased by 100%, from $0.00000050 to $0.000011.
The price of BTT surged in response to apparent confidence surrounding the TRON blockchain, which recently attracted 200 million users. Since BTTC is issued on the TRON blockchain, a rise in TRON users may result in an increase in BTTC demand.
The rising popularity of cryptocurrencies in general or the anticipation that BTTC would be used to pay for services on the BitTorrent platform are other possible causes of BTT's price increase.
For investors who own BTTC tokens, the price gain is positive news in any event. The coin is currently among the top cryptocurrencies available on the market, with a market cap of about $1 billion.
It is anticipated that BitTorrent platform services would be paid for with BTTC: BitTorrent is in the process of incorporating BTTC into its platform so that customers may use the token to pay for services. This integration may lead to a rise in BTTC demand.