BitTorrent’s BTT token is the top gainer in the crypto market today, recording a 34% increase in the last 24 hours and nearly 120% in the past week.
A primary driver of this increase is likely the milestone achieved by Tron, the blockchain platform on which the BTT token is issued. Tron recently announced reaching 200 million users, a significant achievement that has likely contributed to the bullish sentiment surrounding BTT.
Justin Sun, the founder of Tron, emphasized the growing importance of stablecoins, particularly USDT, within the Tron ecosystem.
His influence and the excitement around Tron’s user milestone have likely impacted BTT’s price surge, illustrating how individual figures and significant network events can affect the dynamics of the crypto market.
Moreover, the recent trading pattern of BTT has shown a substantial recovery stance following these positive developments related to Tron.
The token exhibited a declining wedge pattern, and the recent hype surrounding Justin Sun potentially contributed to its 24-hour price increase, culminating in an over 113% surge over the past week. This pattern suggests an underlying bullish sentiment for BTT.
Source: https://crypto.news/bittorrent-btt-token-surges-over-30-amid-trons-milestone/