![]() ![]() ![]() On Twitter, pseudonymous crypto trader “CryptoBatman” put forth the theory that the move is all about driving volume for Binance’s own coin, BNB. When a token has little movement, it becomes easier for it to experience sudden pumps and dumps.Īnd the low volume argument for the removal of the BTT-BTC trading appears to hold water. Even as early as July, crypto traders who bought in were already complaining that the token’s value had plummeted so much (more than 50 percent) that BTT had become unusable.ĭecisions to remove trading pairs on exchanges generally stem from a need to protect prices from the kind of manipulation that can occur in low-liquidity markets. The price of BitTorrent tokens peaked at 0.00017960 BNB (Binance’s native coin) a few days after its launch, and is now valued at 0.00002618 BNB, according to data from Trading View. Since its acquisition, BitTorrent has added various new tools, with a dedicated native cryptocurrency token, BTT, released in February 2019. However, following the token sale, BTT quickly proved to be yet another example of a crypto project that over-promised and under-delivered. CoinCodex delivers latest BitTorrent (BTT) news, analysis, and information to the world, featuring stories from the most trusted source. The sale unloaded 23.76 billion BTT tokens in less than 15 minutes, raising $7 million, according to Binance. Just a few months after its launch, and following a record-setting IEO in January, Binance has delisted the option to trade BitTorrent tokens against Bitcoin.Įarlier today, the world's largest cryptocurrency exchange by volume announced that it will remove the BTT trading pair, along with 29 others, from its platform as a way to "to improve liquidity and user trading experience."īitTorrent’s BTT, launched by Justin Sun’s Tron Foundation, was Binance's first IEO. It seems Tron’s BitTorrent token (BTT) has failed to live up to the hype.
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