BitTorrent (BTT) Explodes by 100% In Hours Following Broader Market Rally

TL;DR

  • BitTorrent (BTT) exploded by a whopping 100% in the past few hours.
  • This follows a broader market increase where numerous cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA), experienced significant gains, with Bitcoin reaching $44,000 for the first time in 19 months and others hitting yearly peaks.

Catching Crypto’s Green Wave

Numerous crypto assets are well in the green today (December 6), with Bitcoin (BTC), Ether (ETH), Ripple (XRP), Solana (SOL), Cardano (ADA), and many others rising to yearly peaks in the past few days.

The largest cryptocurrency by market capitalization – BTC – crossed $44,000 for the first time in 19 months, while some individuals expect a further surge into a new ATH soon.

Other tokens have performed even better than the leading ones, with BitTorrent’s native coin – BTT – being one example. Its valuation has skyrocketed by approximately 100% on a daily basis, whereas its market capitalization is inching toward the $1 billion mark.

BTT Price
BTT Price, Source: CoinGecko

Apart from the general market increase, as well as the fact that many mid-cap altcoins are performing incredibly well alongside BTC, there doesn’t seem to be an apparent reason for this sudden rally. It’s also worth monitoring if it’s sustainable or if it’s a one-off event that will correct as quickly as it came.

It’s also important to note that Justin Sun is the owner of BitTorrent. Recall that the Chinese-born cryptocurrency entrepreneur acquired the company in 2019.

And while Tron’s native cryptocurrency – TRX – has not been among the best performers in the market, the entity behind it smashed some serious milestones. 

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