There is no better way to garner attention for a new crypto than to give it away. The Team at the Foundation are experts at marketing and have widely promoted the BitTorrent and a series of airdrops, the first of which has just been completed.
Over 10 Billion Tokens Distributed
Yesterday Justin Sun took to twitter to announce the for TRX holders;
“The largest and longest airdrop in the history will begin shortly. We have taken the snapshot for all # accounts and ideally we will send #BTT to #TRX holders in next 24 hours.”
The said that TRX held on supporting exchanges and cold wallets would be legible to receive BTT. The ratio of BTT airdropped is 1 TRX = 0.1097681177 BTT, with 1.1% of the total supply to be distributed. A further 990,000,000 BTT will be airdropped on March 11 and an incrementally increasing amount on the eleventh of every month until 2025.
The release also warned about a number of fake social media accounts falsely claiming to be BitTorrent. A few hours later another tweet added that the planned process of 48 hours only took 4 and 10.8 billion had been distributed;
We have sent out 10,856,613,707 to holders, which means 99.69% completion rate! We plan to finish the airdrop in 48 hours but it seems we have done it in 4 hours thanks to the fast speed of !
— Justin Sun (@justinsuntron)
This was shortly followed up by another message confirming that the airdrop had been completed;
We have done the airdrop so please check your &account! Really appreciate the support from and community! See you in the airdrop next month! The airdrop for next month will soon be released!
— Justin Sun (@justinsuntron)
At the time of writing however the BTT had yet to display for TRX account holders using which had some technical issues yesterday. The ever alert Sun reassured his hodlers;
The BitTorrent Foundation completed Airdrop for holders. If your are on an exchange or a supporting our airdrop program they are on their way. Please be patient, it may take some time given the volume airdropped ✌️
— Justin Sun (@justinsuntron)
BTT and TRX Market Reaction
According to BTT has jumped 11% on the day in USD terms and 12% against . It is currently at 26 satoshis, 73% higher than what it was at inception. has over 50% of the total trade but Upbit is currently the top fiat exchange with 35% of the daily volume as Koreans load up in KRW.
however has taken the opposite path and fallen back dropping 4.7% on the day as crypto markets pull back from their . TRX is currently at $0.024 (673 satoshis), which is down 8% on the week but 30% higher than it was at the beginning of the year. has been one of 2019’s top performing crypto assets alongside and Coin. It has held on to eighth place with a market cap of $1.6 billion, $400 million behind Tether.
Image from Shutterstock
Published at Tue, 12 Feb 2019 10:16:28 +0000
