BitTorrent announced a new 30 million BTT token airdrop in October.
📢Good news for #BTFS users:
— BitTorrent Inc. (@BitTorrent) October 7, 2020
The airdrop will be directed to users of BTFS, its BitTorrent File System, the protocol for decentralized data sharing.
In particular, starting from yesterday 30,000,000 BTT will be released to BTFS storage nodes that store at least 100 MiB of data. In addition, other awards will also be distributed to miners.
The team also announced that they will soon add node-fixing mining and file-verifying mining.
The airdrop and price of BitTorrent
Since the price of a BTT token is about 0.3 thousandths of a dollar, 30 million BTT have a market value of just over $9,000 USD. In fact, with time passing the price of BitTorrent’s BTT token has fallen.
The debut on the cryptocurrency markets took place in February 2019, at about 0.4 thousandths of a dollar, but soon the price rose until it reached a first peak of more than 1 thousandth, with an increase of 150% in a few days.
After a first retracement that brought the price back to 0.6 thousandths of a dollar at the beginning of May of the same year, there was a new surge that brought it to its historical high of more than 1.8 thousandths of a dollar on May 28, 2019.
From that point, however, a long descent began, that brought the price to fall below 0.3 thousandths of a dollar at the end of 2019, to then rise again to 0.5 thousandths of a dollar in February of this year.
The collapse of the global financial markets in mid-March brought it to an all-time low of 0.13 thousandths of a dollar, and since then only in mid-August it was able to exceed 0.5 thousandths again.
Since the second half of September the BTT price has been fluctuating around 0.3 thousandths of a dollar, which is below the placement price of February 2019.
On the other hand it is not the first time that BTT tokens are distributed with an airdrop, and this increases the amount of tokens in circulation.
At this point in time, about 600 billion of the existing 990 billion BTT tokens would have been placed on the market, so more will be placed on the market in the coming years.