BitTorrent Token (BTT) Rallies to Lead Ranks of IEO Coins
The asset has been extremely successful, bouncing up from trading lows in a new rally.
BitTorrent Token (BTT) is starting to exploit its popularity as the pioneering IEO asset this year. In the most recent rally, BTT doubled its value over the past few days.
On Tuesday, BTT reached $0.013, up more than 25% in the past day, and gaining more than 63% net in the past week. The gains are happening on increasing volumes, far from record levels, but showing a clear trend of increasing activity.
BTT is also one of the newly released tokens with significant publicity levels. The asset saw recent announcement for upgrades and a new use case. Justin Sun, the co-founder of TRON (TRX) announced the launch of BitTorrent Speed, hinting at new upgrades:
Thus, BTT shares some of the publicity of TRX, and has an advantage over other IEO tokens. The asset can also be used to buy VPN services, as recently announced by BitTorrent, Inc.:
Binance remains the largest market for BTT trading, and in general, tokens on the exchange take turns to rally. This time, another IEO token, Matic Network (MATIC) made a parabolic move, gaining more than 87% overnight.
MATIC is up from lows at $0.004, and gained more than 275% over the past week. The token appreciated to $0.03, a significant increase from the lows. MATIC was one of the IEOs which saw immediate sell-offs before renewed buying and a price climb.
MATIC also rose in Bitcoin (BTC) terms, growing from lows of 58 Satoshi to a recent record of 561 Satoshi. BTT, on the other hand, is yet to repeat its BTC record, but has a significant growth potential as it made its move from lows of 9 Satoshi to current levels of around 13 Satoshi.
The IEO token rise has also affected Celer Network (CELR), another notable Binance IEO. The token also moved to the pennies range, growing by 27% in a day to $0.022, and is up more than 124% over the past week. Fetch.AI (FET) also joined the trend, growing by 120% in a week to $0.28.
IEO tokens remain highly risky and volatile, and are also dependent on the exchange on which they were issued. Moreover, the low price during the token sale does not guarantee higher returns.