Tron (TRX) Rallies 34% in One Week, Gears Up With BitTorrent Crypto Token and Binance Launchpad
The price of Tron has jumped 34% this week, including a 10% leap in the past 24 hours, according to Coinmarketcap.
Last Tuesday, TRX sat at $0.0187 per coin. The price now stands at $0.0262. The rally follows a great week for crypto prices in general, as the total market cap of all cryptocurrencies has gained more than 10%.
Tron has led the charge with developments that are resonating with supporters of an emerging decentralized internet, including the announcement of a new Tron-based token issued by the Singapore-based BitTorrent Foundation for the popular peer-to-peer file sharing platform BitTorrent.
Tron, which acquired the BitTorrent last year, has been working on ways to integrate with the platform and incentivize its massive user base. Tron founder and CEO Justin Sun says the new token, which is also called BitTorrent (BTT), will be used to reward people who share files on the platform.
“Users will earn tokens for uploading, incentivizing them to continue seeding the file longer after the download is complete. Storage and bandwidth will be infused into the torrent ecosystem, causing a rising tide of high availability and longer torrent lifetimes.”
BitTorrent users will be able to use tokens to pay for files or faster downloads. Binance CEO Changpeng Zhao says the token will offer an interesting new test case for blockchain and crypto.
“The grandfather of Dapp finally finds its decentralized currency and business model. Should be a very interesting case study.”
Binance Launchpad, a new platform for entrepreneurs striving to raise funds using token sales, will make BTT available to non-US accounts.
Tron says it has also added over 24 decentralized apps (DApps) since the beginning of the year, including the Everdragons platform which just migrated from the Ethereum net...