According to the statement made by BitTorrent’s official Twitter account, important developments are waiting for investors. According to the statement, BTT is establishing its own network. In this way, the project that switches to its own network will have an advantageous position in terms of costs, smart contracts and speed. After the news, the price of BTT rose by more than 35%. Investors seem to have received the news quite positively.
🌉#BitTorrent Chain, the first scalable heterogeneous cross-chain interoperability protocol, is launched!
🔥Testnet is running now!
🖱️Click here to test: https://t.co/Yz4bI6J5Ch
🥳@BitTorrent and @Tronfoundation welcome developers and the communities to be nodes of #BTTC! pic.twitter.com/lKaIHigyBS
— BitTorrent Inc. (@BitTorrent) November 19, 2021
Also, there will be a “renomination”. So, rename. It will create its own token as it moves to its own network. They will swap your new BTTs with the old BTT (now called BTTOLD). Every old 1 BTT will be replaced by a new 1000 BTT. BTT investors will not be negatively affected by this transaction. That is, the supply will increase but the market cap will not change.
If your one BTT is $0.33, they will now replace it with 1000 BTT of the same value (the value of the new 1000 BTT given will be $0.33) So, your balance will not change. There will be a change in this way so that the low supply does not cause problems.
In summary, good news. You can also see from the effect on the price.
$BTT A 35% candle has arrived. Friends who keep with me, follow. There is a movement. #BTT pic.twitter.com/EaZpCubeGM
— Furkan Bozkurt (@BzkrtFrkn) December 6, 2021
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.