BitTorrent Token (BTT) price marks a depressing decline today amid a market-wide surge. Litecoin (LTC) increased with over 30 percent while Bitcoin (BTC) gained 7 percent on the day.
BTT Price Marks an Alarming Drop
The price of BTT has dropped with more than 10 percent over the last day. This happened despite the market-wide growth.
The value of the recently issued token surged following its ICO and numerous exchange listings. However, My Bitcoin News recently reported that said rally might be “unsustainable” according to an industry expert.
The crash also comes amid news that the token has been listed on yet another cryptocurrency exchange gat.io.
Litecoin (LTC) is The Day’s Winner
On the other hand, Litecoin (LTC) has managed to gain as much as 30 percent of its value at the time of this writing. The cryptocurrency is currently trading at $42.82 according to data from CoinMarketCap.
The sudden positive spike in the value of Litecoin followed a recent announcement of Charlie Lee that the team will be working towards enabling Confidential Transactions.
Additionally, the Litecoin Foundation recently announced the news of possible cooperation to implement Mimblewimble with Beam.
Per the announcement, both teams have started exploring the possibility of adding both privacy and fungibility to LTC. This will be facilitated by on-chain conversion of regular LTC to a Mimblewimble variant of the cryptocurrency and vice versa. Supposedly, this will enable the complete confidentiality of transacting “Mimblewimble LTC.”
What do you think of the current decline in the price of BTT? Share your thoughts down below!
Chart credit to CoinMarketCap