BitTorrent surges 9% as exchanges start accepting BTT token migration

January 26, 2022 06:09 AM AEDT | By Versha Jain
Follow us on Google News:


  • BitTorrent (BTT) rose more than 9% at 8:46 am ET on Tuesday.
  • BitTorrent had begun redenomination of its token in December 2021. 
  • Binance became the latest crypto exchange to support BTT redenomination. 

 BitTorrent (BTT) token rose 9.37% to US$0.002254 at 8:46 am ET on Tuesday after Binance became the latest crypto exchange to support its redenomination.  

The San Francisco-based software company operates a decentralized peer-to-peer or P2P file-sharing torrent platform globally.

BitTorrent has redenominated its token into BTTOLD, the older version, and BTT, the new version. Several exchanges have supported its migration to BTT, the latest one being Binance. 

Barring Binance, all other supporting exchanges will use BTT as the ticker following its re-listing. Binance, however, will use the symbol BTTC for the new token on with BitTorrent’s approval. The move is only aimed at changing the ticker symbol for the token.

Also Read: Five energy stocks that gave over 100% return in a year

The company launched the mainnet with BTT redenomination in December 2021. Users were advised to swap their old BTT tokens with the new ones. The redenomination will not affect the token’s market capitalization, but the supply will increase.

The new token has more use cases than the old one, such as becoming a validator on the BTTC network, paying for gas fees as a native token of BTTC, participating in the governance of the BTTC community, and staking on BTTC to gain rewards.

 Also Read: Top EdTech stocks to explore in first quarter of 2022 

BitTorrent surged more than 9% as exchanges support BTT redenomination.

Also Read: Falling prices stoke a winter of discontent for the crypto market

 BTT token supply

 BitTorrent redenominated the token to boost its supply, which had been limited before the redenomination. BitTorrent has 990 billion tokens in supply, with an average of 11,000 tokens per active user and fewer than 500 tokens per client, it said in a blogpost.

 However, more and more exchanges are coming on board to support its redenomination. Binance became the latest exchange to support the new token, BitTorrent said in a tweet.

 Also Read: Stocks that could give FAANG companies a run for money

 Its current market cap is US$2,231,732,812. The trading volume rose 2.02% to US$3,735,561 in the last 24 hours to Tuesday morning. Both its circulating and the total supply is 990 billion. It is available for trading on Bitget, CoinTiger, Upbit, DigiFinex, KuCoin, and Binance.

Also Read: Five bank stocks to explore as rate hike prospects grow

What Is BitTorrent (BTT)?

BitTorrent was launched in 2001. The blockchain platform TRON had purchased it in 2018. TRON launched the token on its blockchain with the TRC-10 standard in 2019.

The token’s all-time high of US$0.01356626 was recorded on April 5, 2021, while the all-time low was US$0.00013814 recorded on March 13, 2020, as per

 The token rose around 522% in one year.

 Also Read: In tit-for-tat move, US suspends 4 Chinese airlines in Omicron row


The crypto market has been volatile of late. It was up 8.14% to US$1.66 trillion at 9:53 am ET on Tuesday after consecutive days of decline.


The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.

Top Listed Companies