CryptoBitTorrent’s BTT Token Sees 16% Surge Amid Tron Milestone

BitTorrent’s BTT Token Sees 16% Surge Amid Tron Milestone

BitTorrent’s BTT token has experienced a sharp rise in value, climbing 16% over the past 24 hours and registering a 14% increase over the last week.

At the time of writing, BTT is up by 7% in the past day, trading at $0.00000091. This performance has pushed its market capitalization to $889 million, positioning it as the 78th largest cryptocurrency. Daily trading volume has also surged, soaring by 793% to reach $133.6 million.

The token’s recent surge is largely attributed to a significant milestone achieved by the Tron blockchain, where BTT is issued. Tron’s founder, Justin Sun, highlighted the achievement in an X post, sharing data from Token Terminal, which revealed that Tron generated ten times more transaction fees than Bitcoin in August. This news has fueled a bullish sentiment around BTT.

“Everything is just beginning. Don’t fight the numbers,” Sun stated, reinforcing the optimism surrounding Tron and its associated tokens.

BitTorrent’s price action currently shows a bullish trend. On the 1D STRK/USDT chart, BTT is approaching $0.0000009136, testing the upper Bollinger Band. The Relative Strength Index (RSI) sits at 61, indicating further growth potential before entering overbought territory.

The token recently bounced from a key support level at $0.0000007456, and the increase in trading volume suggests rising market interest. Traders are watching closely as BTT approaches its next resistance level at $0.0000009866. A break above this could push the price higher, possibly testing the psychological barrier of $0.0000010000. However, if resistance holds, consolidation or a retest of lower support levels could occur.

Market participants are advised to monitor the $0.0000007456 support level closely, as a drop below this point could signal a downtrend for BTT.

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Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

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