$BTTC Its price is attractive!!
Introduction to the currency:
BitTorrent (BTTC) is the official token of the popular BitTorrent platform, which is used for decentralized file sharing. BitTorrent, which started as a file sharing program, became part of the TRON ecosystem after being acquired by TRON in 2018, and the token was launched to support the ecosystem and expand its uses.
Project objectives:
Improving the online file sharing experience with blockchain technology.
Promote the concept of decentralization in file storage and distribution.
Providing rewards to users who contribute to speeding up downloading and uploading processes on the platform.
Support smart contracts to develop additional services such as file storage or live streaming.
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Financial data analysis:
1. Market value:
It is currently worth around $1.08 billion, which puts it in the list of medium-impact coins.
2. Fully diluted market value:
It reaches $1.1 billion, reflecting a relative stability between the current price and future supplies.
3. Total supplies:
It is around 990 trillion BTTC, which makes the coin low in price due to the huge amount of tokens.
4. Price performance:
Current price: $0.000000111.
All-time high: $0.00000354 (achieved in January 2022).
Historical low: $0.00000036 (recorded in October 2023).
5. Daily trading volume:
Relatively stable volume is a positive indicator of liquidity.
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Founders and Team:
BitTorrent was developed by Bram Cohen in 2001 as a file sharing tool.
In 2018, Justin Sun, the founder of the TRON network, acquired BitTorrent and redirected the project towards blockchain.
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Most prominent uses:
File Sharing: Boost your upload and download speed by paying with BTTC.
Decentralized Storage: Support for file storage platforms such as BTFS (BitTorrent File System).
Rewards: Incentives for users to speed up data exchanges.
Decentralized Applications (dApps): These are used to support smart contract activities within the TRON ecosystem.
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Advantages and disadvantages of currency:
Advantages:
A project related to an existing and globally popular service (BitTorrent).
Strong support from the TRON network, which provides reliable infrastructure.
The potential to expand the use of the token into new areas such as streaming or storage.
Disadvantages:
The very large supply (990 trillion) makes the price increase a big challenge. But not impossible.
The competition in the cryptocurrency market for storage and decentralized applications is fierce.
The current low price makes it vulnerable to high volatility.
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Historical and future price performance:
Previous performance:
The coin saw a significant rise after its launch, but the bear market in 2022 greatly affected its value.
It reached its lowest levels in 2023 with weak demand.
Future forecast:
If there is increased reliance on decentralized storage services or technical improvements are made to the network, the currency could see a price increase.
In the short term, the price may remain stable with slight fluctuations.
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Conclusion:
BitTorrent (BTTC) is a project with a strong base due to its popularity in the file sharing space and its support from the TRON network. However, the large supply of the token poses a challenge to achieving significant gains. It is advisable to invest with caution, focusing on following the project’s developments and ensuring that innovation continues to be maintained to avoid risks.
Is it worth the investment?
If you are a long-term investor and believe in the vision of the project, storage may be a good option.
It is preferable to invest a small amount, while monitoring market performance and technical developments.
Would you like additional market analysis or comparison of this coin to similar projects?
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