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TRON News - Justin Sun Announces Live Stream to Discuss New BitTorrent (BTT) Coin on January 4

  • Yuri Molchan
    📰 News

    The CEO of Tron intends to provide more info and answer questions regarding the new Tron-based BitTorrent coin (BTT) on Friday, 4 January

Justin Sun Announces Live Stream to Discuss New BitTorrent (BTT) Coin on January 4
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On Wednesday, 3 January, the file-sharing giant BitTorrent, which was acquired by Tron in the summer of 2018 let the world know about the release of its own crypto token BTT. The plans to create such a coin had been announced earlier, in the last quarter of 2018.

Now, Justin Sun, the founder of Tron, invites everyone interested to an online meeting regarding the BTT (BitTorrent, similarly to the company’s name) launch. Most likely, it will be a live stream.

The BTT coin

It has been a while since BitTorrent announced that the token is being developed and now 2019 begins with the news of the IT giant releasing one. The plan is that BTT will be used on BitTorrent, allowing users to increase the speed of downloads and create an incentive for users to utilize the platform.

The coin is created on the Tron network and is compatible with the TRC-10 protocol. Also, it is going to be embedded into the most widely-used app made by BitTorrent - µTorrent Classic client.

The AMA live stream

The live stream promised by Justin Sun is to take place on Friday, January 4, at 8 a.m. PST, as per the Twitter post.

In the comment thread Sun’s followers, running ahead of the actual AMA (“ask me anything”) session, have begun to make assumptions as to how BTT will be exchangeable with TRX, at what rate. Many believe that if the rate is 1:1, then the currently released TRX supply will not be enough, so the next popular version that per one BTT coin users will be able to get just a fraction of TRX, since the two platforms are going to be totally compatible.

Apart from the aforementioned live stream, Justin Sun plans to give more data on BTT and Tron’s plans regarding it (including the Atlas project) at the niTROn Summit which takes place on January 17–18 in San Francisco.

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Binance steps in

Presently, BTT coins are available for purchase on the Binance Launchpad. The exchange’s team says in its blog that the Launchpad is made in order to help promising blockchain startups gain attention and financial support from the crypto community. The platform has just been launched, and the first two projects to be listed on it, as per the blog post, are BitTorrent and Fetch.AI.

TRX community reaction

Judging by the comments under the Sun’s tweet, the TRX community seems to be confused by the launch of the new token. Many are questioning why TRX is not used on BitTorrent and what is the point of making yet another coin.

Some users seem upset believing that now TRX holders will have to buy BTT, even though they do not feel like supporting this new token.

reaction

TRX market stance

On 4 January, when nearly all the top-ten coins are in the red, the only two coins that are appreciating are Ethereum and TRX. The news about the BTT launch could be the power that is helping TRX go up when everything is rushing downwards.

The current TRX price is $0.0205, the rise over the past 24 hours has been 3.43 at press time.

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TRON News - LTC, BNB, TRX, and Others Can Make This a True Altcoin Season — How Can Bitcoin React?

  • Jack Thomas
    🤷 Opinions

    ☀️📈Since the Crypto Winter started thawing, all the main action has come from altcoins, and now a few are breaking key moving averages

LTC, BNB, TRX, and Others Can Make This a True Altcoin Season — How Can Bitcoin React?
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While the cryptocurrency market may not be fully bullish and breaking new records in terms of gains and growth, one thing that seems to be apparent is that the total bear market is starting to draw to a close. There has been a lot more positive sentiment in the past few weeks and months.

A lot of this has had to do with a few altcoins putting on good performances in the market. Thanks to positive news with a number of top 20 coin projects, their own token value has been rising – as well as importantly staying up.

Now, there is technical analysis that suggests that coins like Litecoin, Tron and Binance Coin, as well as lesser-known Maker, are trading above their 200-day moving averages, a development typically considered a sign of a healthy market.

This is good news across the board, but what is interesting to keep an eye on is whether Bitcoin will manage to keep up, outdo the altcoins, or potentially start falling behind, enforcing a true altcoin season.

Making a move

Of the top 20 largest cryptocurrencies by market capitalization as per CoinMarketCap, both the BTC and USD pairs of Litecoin, Binance Coin, Tron, and Maker are currently trading above their respective 200-day moving averages.

A moving average is simply an ongoing calculation of the closing prices of an asset over a specified period of time, but is also a tool traders use to gauge the asset’s trend direction as well as support and resistance levels.

These positive moves by top ranked cryptocurrencies are thus reinforcing the notion that the cryptocurrency market is heading towards spring again.

However, Bitcoin, as the head and the mover of the cryptocurrency market, is still trading below its own 200-day moving average, which could also be a reason why people are skeptical of flooding back into the market.

Altcoin season?

While Bitcoin has often been the catalyst and mover of the direction of the markets – and still predominantly is today – there have been times where the remainder of the coins take charge of the direction of things.

It is still early in the supposed Crypto Spring, but with altcoins making the biggest movements and helping prop up the market, one could assume that the market is heading for another altcoin season.

The last one was seen soon after Bitcoin’s All Time High as the remaining coins caught the tailwind of that astronomical growth, but things could well be reversed here if a few more major altcoins catch up and can cross their own 200-day moving averages.

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