BitTorrent (BTT), the decentralized protocol for peer-to-peer file sharing (P2P), has grown enormously in the last 24 hours. The Reddit group r / SatoshiStreetBets is said to be responsible for the extreme price increase.
With BitTorrent, users can exchange data decentrally via the Internet
Justin Sun, the founder of Tron (TRX), bought the project in 2018 and changed some things. Since then, the cryptocurrency BTT has been the focus of the platform and BTT owners enjoy many advantages. For example, they can download faster and receive BTT as a reward for providing data.
On the morning of yesterday February 9, the price of the crypto project surprisingly rose by more than 129 percent. At press time , the BTT price is at $ 0.001339 .
Many investors then wondered what the reason for the rapid price increase was. It appears that the Reddit group r / SatoshiStreetBets is behind the BTT Pump, which has already been involved in the pumps from Ripple (XRP) and Dogecoin (DOGE) .
Reddit group rushes on BTT
Since yesterday evening BTT has been in the sights of the Reddit group r / SatoshiStreetBets . Similar to DOGE and XRP, there are extremely many coins at BTT, which means that the price of the cryptocurrency is very low. This makes it very attractive, especially for inexperienced investors, as these coins often simply buy because of an apparently low price. The Reddit group is currently relying on this fact and several users called on the community to pump BitTorrent .
In addition, not only BitTorrent benefited from this event, but also Tron and the casino coin Wink (WIN) , which is also part of the Tron ecosystem. At the time of going to press, both cryptocurrencies were posting double-digit price increases.