The BitTorrent token increased by almost 370 percent compared to the previous month. In addition to a generally bullish mood on the market, the reason for this is likely to be the advertising campaigns by Binance and Huobi.
The token (BTT) based on the Tron blockchain from the notorious file-sharing company BitTorrent can — once again — look back on an explosive week. Compared to last week, the price of BTT rose by 71 percent, reached a new record high (0.005479 US dollars) in the morning hours of March 31, and is currently consolidating at around 0.0051 US dollars (as of March 31) 2021, 9:26 a.m.). Compared to the previous month, BTT is even 367.89 percent up.
While the entire crypto market is currently picking up and Bitcoin is also scratching at the 60,000 US dollar mark, the past few weeks have been rather red. One of the few coins that held up against it in green: BitTorrent (BTT). The reason could be advertising campaigns launched by the Binance and Huobi Global crypto exchanges.
At Binance, advertising began on March 20th and continued until March 26th. The marketing campaign was divided into three phases (A, B, and C). Phase “A” was intended for new customers. There, new users could register with the crypto exchange via various gift links and receive up to 10 US dollars in Tron (TRX), Wink (WIN), Just (JST), SUN or BTT, which, however, are not paid out until the account reaches a volume of at least 3 BTC (currently over 150,000 US dollars). The issue amount was limited to a total of $ 100,000.
Phase “B” was a kind of trading competition in which the users were measured according to their purchases and sales in USDT. Those who traded the most TRX, WIN, BTT, JST or SUN received another token reward of 30,000 US dollars.
Phase “C” then followed as a “cherry”. All traders who traded at least 30,000 USDT in the trading competition were thrown into a lottery pot. From this 100 lucky winners were then drawn, who each received an additional $ 500 in tokens. In total, Binance distributed $ 250,000.
The marketing campaign at Huobi is comparable to that of Binance. It started on March 19th and runs until April 3rd. Only TRX and BTT are tradable. The prizes total $ 100,000 and will be distributed between places 2 through 50. First place goes to a brand new Tesla “Model Y” worth 50,000 USDT. The spot trading volume is decisive for the placement. In addition, the competition is planned from April 1 to April 16. This time for the tokens JST and SUN. The conditions and prices remain the same.
After the raffle announcements, the BitTorrent Token saw a real vertical start of the course. The token was already pumping a little over 200 percent within a day of the announcement. The other tokens also benefited from the marketing campaign.
The last pump of the BitTorrent token was not that long ago. The token was already in the focus in mid-February when the price suddenly rose by almost 130 percent. Many suspected none other than the Reddit group “r / SatoshiStreetBets” to be responsible for the increase. They had actively called for the purchase of the cryptocurrency within their community.
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