BitTorrent (BTT) price has lost over 11 percent of its value in the last 24 hours. The move comes as the company announced that leading cryptocurrency payment processor CoinPayments supports BTT.
BitTorrent (BTT) Price Goes Down
BTT Price is sitting at $0.000823 according to data from CoinMarketCap.At the time of this writing, it marks a 11% decrease on the day.
BitTorrent’s ICO was on January 28th, where BitTorrent Tokens (BTT) were sold at $0.000012 a pop. In other words, despite the recent decrease, BTT is still trading roughly around 7 times their ICO price.
However, some hold that the current rally is unsustainable in the short term and that liquidation is likely incoming.
BTT Accepted on CoinPayments
The current decline in BTT price comes as one of the leading cryptocurrency payment processors - CoinPayments, announced support for the token.
The owner of both TRON and BitTorrent, Justin Sun, explained that BTT’s integration on CoinPayments is going to boost the liquidity of the token prior to the upcoming BitTorrent Speed roll out.
According to the official announcement, the integration is going to allow ‘millions of users’ throughout the world to buy goods and services from numerous online merchants using their BTT.
As reported, BitTorrent Speed is the platform’s key feature. It’s going to enable BTT users to bid the token in exchange for faster downloads, while, at the same time, incentivizing seeders for their activity.
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Chart credit to CoinMarketCap; Cover Photo by Pixabay