![]() ![]() This reflects a major success in the redenomination plan. The BitTorrent network recently announced that 28% of the entire supply of BTTOLD tokens has been burned. The launch of the BitTorrent mainnet seeks to burn the BTTOLD tokens that will be replaced by new BTT tokens. The redenomination plan seeks to grow the BitTorrent network through a mainnet launch. Since the redenomination plan was introduced, the BitTorrent network has been on a bullish gain. Since early December, BTT has failed to make any notable gains, showing strong dependence on market support hence, if the market fails to recover, BTT could retreat to a downtrend. ![]() As such, the token could be headed towards the lower support level of $0.0029. On the downside, BTT could also fail in its attempted price recovery, in which case it could erase the weekly gains. A strong uptrend towards the record highs will be created with both market support and buyer support. However, this will only be achieved if the bullish gains are maintained. While BTT failed to regain its all-time high in 2021, the current performance in the market shows promise of this happening again. The resistance level currently lies at $0.00310, which could be broken out if the buyers continue to accumulate more tokens. Over the past 24 hours, the highest level attained by BTT is $0.00316. The bullishness comes from buyer support, given that the rest of the market is on a downtrend. Over the past week, BTT has increased by double-digits, and its weekly gains now stand at around 15%. Sign-up for the Invezz newsletter, today. This comes as the majority of the market dips or consolidates.Īre you looking for fast-news, hot-tips and market analysis? Among the tokens that have outperformed the market is BitTorrent ( BTT/USD), which has slightly gained during the past 24 hours.Īt the time of writing, BTT was trading at $0.00305, representing a 2.1% gain during the past 24 hours. The bearish pressure across the crypto market has not prevented some altcoins from attempting a price recovery. ![]()
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