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BitTorrent Offers Details on Approaching BTT Airdrops, Binance Confirms Its Support

  • Yuri Molchan
    📰 News

    The BitTorrent Foundation intends to conduct several BTT airdrops to owners of Tron (TRX). The first one will be 1.1 percent of the supply in circulation


BitTorrent Offers Details on Approaching BTT Airdrops, Binance Confirms Its Support
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As U.Today reported earlier, the BitTorrent company soon intends to make several airdrops of their newly-made BTT tokens to the owners of TRX assets.

The first distribution is planned for February 11, when the block height reaches 6.6 mln. TRX users will get 10,890,000,000 BTT, which equals slightly over 1 percent of the total amount of BTT in circulation.


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BTT airdrops in the coming years

Within this year, BitTorrent is going to spread around 12,000,000,000 BTT, which is 1.2 percent of the overall BTT amount. This will take place after the first airdrop in mid-February.

A year later, hodlers of TRX will be given around 13,000,000,000 BTT, which corresponds to around 1.3 percent of the total BTT supply.

Within six years after that, airdrops of BTT assets will slightly increase in amount, rising by 0.1 percent each year. By 2025, they will reach the figure of 1.7 percent of the total supply that will be in circulation by that time.

Special present to those who have stored Tron for a long while

To encourage and reward those users who have been hodling TRX coins for a long while already, BitTorrent intends to release an extra 99,990,000,000 BTT as another airdrop, giving them away during special events that will take place both on the Internet, on social media and offline, too.

All BTT airdrops will be conducted on Tron-based wallets at the ratio that TRX users keep in their wallets.

The BitTorrent Foundation will later provide details about the exchanges that will underpin the BTT airdrops mentioned above. So far, Indian exchanges Koinex and WazirX are in.

Binance’s CEO has also confirmed the support of the BTT airdrop, but an official statement from him has yet to come out.

Special present to those who have stored Tron for a long while

 

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It Could Take Bitcoin 22 Years to Retest Its ATH: UBS Analyst


It Could Take Bitcoin 22 Years to Retest Its ATH: UBS Analyst
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The fact that Bitcoin saw its price breaking above $5,000 at the beginning of April made everyone highly optimistic about the prospects of a full-fledged bull run. However, crypto bulls shouldn’t hold their breath since it could take decades for the number one currency to recover from its epic downfall.

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Bitcoin compared to other bubbles  

After comparing Bitcoin to other bubbles, UBS analyst Kevin Dennean came to a conclusion that BTC will most likely follow their lead, Business Insider reports.
However, here’s a catch – Bitcoin will have to undergo a long-lasting recovery, so it is not reasonable to expect another bull run in the nearest future. For comparison, it took the Dow Jones Industrials 22 years to reach its previous peak.   


‘We're struck by how long it took other asset bubbles to recover their peak levels (as long as 22 years for the Dow Jones Industrials) and how pedestrian the annualized returns from trough to the recovery often are,’ Dennean claims.

Bitcoin compared to other bubbles  

Picture: ©FactSet

With that being said, it is still not guaranteed that a certain bubble retests its ATH even after decades since a big burst. Nikkei, despite reaching its 20-year highs in October 2017, was still 50 percent lower than its ATH that was recorded in 1989.

Nikkei

Picture: ©ATLAS

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When you lose, you win

During the peak of the crypto market, Bitcoin was frequently compared to the infamous tulip mania, but these two barely had anything in common (except for the horrible stability of value). Hence, it hardly makes sense to apply a certain pattern and expect Bitcoin to behave in a similar fashion to other bubbles.

Historically, enormous price crashes actually benefited Bitcoin. As reported by U.Today, Bitcoin trader recently noticed that the BTC price rise 5.1-16.89 times every 70+ percent plunge. Crypto bulls have every reason to expect a similar outcome this time around.

'Shadow of bull statue on texture tiles floor metaphor of bull market is coming for stock market or investment asset' image by 123rf.

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