{"id":319230,"date":"2023-04-20T16:07:32","date_gmt":"2023-04-20T15:07:32","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=319230"},"modified":"2023-04-20T16:07:32","modified_gmt":"2023-04-20T15:07:32","slug":"bittorrent-token-defies-market-uncertainty-btt-posts-22-week-high","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bittorrent-token-defies-market-uncertainty-btt-posts-22-week-high\/","title":{"rendered":"BitTorrent token defies market uncertainty; BTT posts 22-week high"},"content":{"rendered":"

BitTorrent (BTT) spiked as high as $0.00000090 to mark a 22-week high for the file-sharing token – leading the top 100 in the process.<\/p>\n

A sharp sell-off on Wednesday saw crypto prices tumble, leading to general uncertainty today. However, BitTorrent<\/a> bucked broader market sentiment to post 9.8% gains over the last 24 hours at the time of press.<\/p>\n

The chart below shows April 19's daily candle unable to hold onto the gains – retracing significantly from the $0.00000090 local top, closing the day at $0.00000070.<\/p>\n

Lower time frames show, over the course of April 20, BTT rose as high as $0.00000080 on two occasions – only to be rejected both times, leaving another long top wick.<\/p>\n

The Relative Strength Index (RSI) hit just shy of 70 – the threshold for overbought territory – before printing a sharp dip downwards – suggesting waning momentum.<\/p>\n

Low volume accompanying the move higher was noted – suggesting an absence of sellers rather than strong buy pressure driving the move higher.<\/p>\n

\"BitTorrent
Source: BTTUSD on TradingView.com<\/a><\/figcaption><\/figure>\n

The token hit an all-time high of $0.00000343<\/span><\/span> in January 2022 – the current price is approximately 80% down from this price.<\/p>\n

Fundamental developments<\/h2>\n

Decentralized exchange Mdex<\/a> announced BitTorrent support from April 24 onwards.<\/p>\n

Participants in the “feedback activity” can win a share of the $180,000 reward. This involves using Mdex, such as briding tokens or adding and staking to liquidity pools.<\/p>\n

In addition, BitTorrent<\/a> recently called on developers to submit their dApps and websites for deployment on Awesome BTFS (BitTorrent File System).<\/p>\n

“Unlock your website\u2019s potential with Awesome BTFS! It connects you to a vast audience and boosting traffic to amplify your impact.<\/span>“<\/p><\/blockquote>\n

The company described<\/a> the technology as “the next generation decentralized file storage system build for web 3.0 Applications.” It uses multichain peer-to-peer networks and smart contracts for scalable, low-cost data storage.<\/p>\n

Several websites<\/a> have already signed up, including Yam Finance and Uniswap V3, as well as Tron-affiliated sites such as SunSwap and TRONScan.<\/p>\n","protected":false},"excerpt":{"rendered":"

BitTorrent (BTT) spiked as high as $0.00000090 to mark a 22-week high for the file-sharing token – leading the top 100 in the process. A sharp sell-off on Wednesday saw crypto prices tumble, leading to general uncertainty today. 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