BitTorrent has announced that the BTT tokens in staking on DLive have exceeded 20 billion.
🥳Breaking News | $BTT staked on @OfficialDLive exceeding 20 Billion!
The $BTT Staking rewards come from the 25% of all donations and subscriptions on @OfficialDLive every day.
Stake: https://t.co/uTnFC9mFlH#BTT #BitTorrent @justinsuntron @Tronfoundation @OfficialDLive pic.twitter.com/tItxiPoIBl
— BitTorrent Inc. (@BitTorrent) July 9, 2020
In total, out of the 990 billion BTT created to date, there are only 212 billion in circulation, which is just over 21%. The remaining 79% has already been created, but not yet distributed.
Of this 212 billion in circulation, as much as 20 billion are staked on DLive. This means that almost 10% of all BTT tokens currently in circulation are locked up on DLive.
On a daily basis, DLive distributes 25% of all donations and subscriptions to users staking BTT on the platform.
This is evidently attracting many investors who choose to stake their BTT on this platform in exchange for more BTT tokens distributed daily.
It is actually quite easy to stake BTT on DLive. The platform allows installing a TronLink add-on as a browser extension to be used as a wallet to receive, store, and send BTT tokens.
In the user menu on the DLive platform, there is an option that allows users to send tokens from TronLink to the staking service.
When users earn rewards, they can freely claim them, and they will receive the requested BTT tokens on their TronLink wallet.
The really peculiar thing is that this feature was introduced on DLive only at the end of April 2020, so in less than three months 10% of all BTT in circulation ended up being locked on this single platform.
The rewards are obviously variable, as they depend on the platform’s revenues that aren’t necessarily constant, but clearly many BTT token owners have preferred to put them to good use this way.
The BTT token debuted on the markets in February last year, with an initial price of 0.48 thousandths of a dollar.
The price rose very quickly to 1.19 thousandths after only a few days, only to rise again and reach its all-time high on May 28th of the same year when it hit 1.82 thousandths of a dollar.
Since then, however, the price fell, first to 0.27 thousandths in December 2019, and then to 0.15 during the collapse of the financial markets in mid-March 2020.
It then recovered, first rising to 0.34 thousandths of a dollar at the beginning of June, and then rising to over 0.45 in the last few days. The announcement of the 20 billion BTT placed in staking on DLive is likely to have contributed to this recent peak.