In Just Under 15 Minutes, BitTorrent Tokens Were Sold Out Netting Over $7 Million
The Jan. 28, the BitTorrent token (BTT) sale on the Binance Launchpad minced $7.1 million dollars, with a sale of 50 billion tokens in under 15 minutes. Newly launched, the BTT is a Tron TRC-10 based token and will be used on BitTorrent, a peer-to-peer file-sharing platform to “transact in computing resources shared between BitTorrent clients and any other participating service requesters and service providers.”
The conclusion of the sale was announced in an official blog post. The BTT tokens were sold in two simultaneous sessions on Binance Launchpad. One session was for buyers using Binance’s native token, Binance Coin (BNB), and the other for buyers using Tron (TRX). According to the sales data posted on the Binance website, each token was priced at $0.00012.
Justin Sun, the founder and CEO of TRON, tweeted the news, sharing his excitement on the matter.
It is official: In the BNB session, all 23.76 billion BTT were sold to token sale participants within 13 minutes and 25 seconds. Meanwhile, in the TRON session, all 35.64 billion BTT were sold within 14 minutes and 41 seconds. #BTT $BTT #BitTorrent #TRON https://t.co/C1dqxRkO2l
— Justin Sun (@justinsuntron) January 28, 2019
Changpeng Zhao, the CEO, and founder of Binance said that the sale would have ended much sooner, had technical issues not surfaced on the Launchpad website. Zhao tweeted at around 3:20 UTC
Both sessions concluded. Took about 18 minutes, due to a system issue, would have taken 18 seconds otherwise. Demand was astronomical.
— CZ Binance (@cz_binance) January 28, 2019
The BitTorrent Speed, the system which will integrate the Tron-based BTT token into the popular µTorrent Windows client, will purportedly launch by summer.
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