Feb 15, 2024

BTT, the eponymous token of BitTorrent, the peer-to-peer filesharing platform owned by Tron, surged over 12% as the Tron network works through another burn of its TRX token.

Video transcript

The chart of the day is presented by crypto.com, the leading crypto platform trusted by over 80 million users worldwide. It's time to take a look at the chart of the day B TT, the Token of Bittorrent, the peer to peer file sharing platform owned by Tron surged over 12% as the Tron network works through another burn of the TRX token burning crypto is when tokens are permanently removed from circulation by transferring them to an inaccessible wallet. Often to reduce supply and potentially increase the value for the remaining tokens. In the past over 100 and 70 million tr tokens have been removed from circulation. According to Tron scan. TRX is currently in a deflation phase. Historically, B TT has reacted well to positive news from Tron even if TRX doesn't move with the same velocity in December B TT nearly doubled in a day after Trons Blockchain hit 200 million users. That's rap for today's chart of the day. I'm Jen Sani and we'll see you next time to pack more of the data behind top news stories.

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