Altcoin Explorer: BitTorrent Token (BTT)

BitTorrent is a brand that was well known before Satoshi Nakamoto even released his whitepaper for Bitcoin. It served as the most used P2P software …
Reading Time: 3minutesbyAshwath BalakrishnanonAugust 29, 2019&nbspAltcoin Explorer, Altcoins

BitTorrent, the first Binance Launchpad IEO, was issued to power the BitTorrent Speed network with a variety of use cases for the token listed in the whitepaper and subsequent analyses. But as pointed out by eminent crypto VC, Barry Dilbert, most utility tokens act as friction tokens that slow down efficiency and offer no real utility. In this run down, BTCManager covers the merits and demerits of the BitTorrent project.

First Major P2P File Sharing Client

BitTorrent is a brand that was well known before Satoshi Nakamoto even released his whitepaper for Bitcoin. It served as the most used P2P software and thrived due to its economic model of ‘give and receive’.

In 2018, TRON bought BitTorrent and announced their plan to integrate it into their network. This was met by criticism from the ex-CSO of BitTorrent who claimed that the TRON blockchain cannot handle the volume of transfers from BitTorrent.

As destiny would have it, the whitepaper outlined that they will deploy an on-chain token exchange with a private ledger to process BTT transactions, as TRON cannot achieve the necessary throughput to handle it.

TRON bought a company that owned the world’s largest P2P data transfer client, one that was thriving as it was, and deployed it on a blockchain with a token to create friction that never existed.

The team argues that the point of the token is to incentivize seeders and enable users to purchase network bandwidth. What they failed to understand is that the existing game theory of BitTorrent was perfect as it was – seeders keep seeding to keep the network strong, and in return when they need to leech there are adequate seeders.

With that said, another use-case of the token comes with the unveiling of BLive, BitTorrents mobile streaming service that is akin to that of the Brave browser, wherein users can tip their favorite streamers and content creators in BTT amongst other features. Whilst this does broaden the use-case for BTT, what can be said of the performance of the token on the market?

Tokenomics of BitTorrent

TRON’s plan of integrating a new incentive layer on BitTorrent can be seen as ambitious, and their intent is definitely positive. But the economics of BTT issuance renders it an asset nobody would want to hold – so what’s the point of even having the token?

BitTorrent is best compared to ERC20 tokens as they are both meant to be utility tokens built on top of a base blockchain.

Most ERC-20s like Golem (GNT), Basic Attention Token (BAT), and OmiseGo (OMG) have issued the entirety of their supply and have nil inflation. Others like ChainLink (LINK) and 0x have not and have issued 93 percent and 65 percent of their supply respectively.

BTT has issued 40 percent of its supply, with a reported supply of 212 billion tokens and a hard cap at 990 billion. The inflation rate on BTT is a mind-numbing 70.98 percent as per Messari data.

Essentially, investing in BitTorrent now means that by the time total supply has been issued, your position has been diluted to more than half of what it is today. Of the 588 cryptocurrencies and tokens for which Messari has data, BTT is at number 7 in terms of highest inflation rate.

The team and TRON Foundation will hold nearly 40 percent of supply. The public sale accounts for just 15 percent of total supply. If the Foundation and investors dump their tokens in the market to realize their returns, the minority are doomed.

Nobody in their right senses would invest with such high inflation; add the token dilution and low market float to the mix and you have an economic disaster on your hands.

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Comparison of Xunlei Limited (XNET) and 2U Inc. (NASDAQ:TWOU)

Xunlei Limited (NASDAQ:XNET) and 2U Inc. (NASDAQ:TWOU) compete against each other in the Application Software sector. We will compare them …

Xunlei Limited (NASDAQ:XNET) and 2U Inc. (NASDAQ:TWOU) compete against each other in the Application Software sector. We will compare them and contrast their dividends, institutional ownership, analyst recommendations, profitability, risk, earnings and valuation.

Earnings and Valuation

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio
Xunlei Limited 3 0.83 N/A -0.61 0.00
2U Inc. 54 5.08 N/A -0.79 0.00

Table 1 shows the gross revenue, earnings per share and valuation for Xunlei Limited and 2U Inc.

Profitability

Table 2 provides the return on equity, return on assets and net margins of the two firms.

Net Margins Return on Equity Return on Assets
Xunlei Limited 0.00% -10.4% -8%
2U Inc. 0.00% -6.5% -5.4%

Volatility and Risk

Xunlei Limited’s volatility measures that it’s 72.00% more volatile than S&P 500 due to its 1.72 beta. Competitively, 2U Inc.’s beta is 0.8 which is 20.00% less volatile than S&P 500.

Liquidity

The Current Ratio and Quick Ratio of Xunlei Limited are 3.4 and 3.2 respectively. Its competitor 2U Inc.’s Current Ratio is 5.1 and its Quick Ratio is 5.1. 2U Inc. can pay off short and long-term obligations better than Xunlei Limited.

Analyst Recommendations

The next table highlights the delivered recommendations and ratings for Xunlei Limited and 2U Inc.

Sell Ratings Hold Ratings Buy Ratings Rating Score
Xunlei Limited 0 0 0 0.00
2U Inc. 0 0 8 3.00

On the other hand, 2U Inc.’s potential upside is 144.59% and its consensus target price is $87.

Institutional and Insider Ownership

Institutional investors held 18.3% of Xunlei Limited shares and 0% of 2U Inc. shares. 0.39% are Xunlei Limited’s share held by insiders. On the other hand, insiders held about 1.9% of 2U Inc.’s shares.

Performance

In this table we provide the Weekly, Monthly, Quarterly, Half Yearly, Yearly and YTD Performance of both pretenders.

Performance (W) Performance (M) Performance (Q) Performance (HY) Performance (Y) Performance (YTD)
Xunlei Limited -5.01% -6.4% -5.57% -50.99% -75.86% -5.29%
2U Inc. -9.2% -37.37% -38.3% -25.01% -56.18% -18.24%

For the past year Xunlei Limited’s stock price has smaller decline than 2U Inc.

Summary

On 6 of the 8 factors 2U Inc. beats Xunlei Limited.

Xunlei Limited, a cloud-based acceleration technology company, operates an Internet platform for digital media content in the People’s Republic of China. The companyÂ’s platform is based on cloud computing that enables users to access, manage, and consume digital media content. It offers Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet; and cloud acceleration subscription services that offer users premium services through various products, such as Green Channel and Offline Accelerator. The company also provides Mobile Xunlei, a mobile application that allows users to search, download, and consume digital media content on their mobile devices; Xunlei Media Player, which supports online and offline play of digital media content, as well as simultaneous play of digital media content while it is being transmitted by Xunlei Accelerator; online games, including Web games and MMOGs through its gaming platform; online advertising services; and other Internet value-added services. As of December 2016, its platform had approximately 152 million monthly unique visitors. The company was formerly known as Giganology Limited and changed its name to Xunlei Limited in January 2011. Xunlei Limited was founded in 2003 and is headquartered in Shenzhen, the People’s Republic of China.

2U, Inc. provides cloud-based software-as-a-service (SaaS) solutions for nonprofit colleges and universities to deliver education to students. Its cloud-based SaaS platform solutions include online campus, an online learning platform that enables its clients to offer educational content together with instructor-led classes in a live, intimate, and engaging setting through proprietary Web-based and mobile applications. The companyÂ’s integrated back-end applications launch, operate, and support clients’ programs, as well as provide clients with real-time data and analytical insight related to student performance and engagement, student satisfaction, and enrollment. It also offers a suite of technology-enabled services, including content development and student acquisition, admissions application advisory, student and faculty support, student field placement, accessibility, immersion support, faculty recruitment, and state authorization services. The company was formerly known as 2Tor Inc. and changed its name to 2U, Inc. in October 2012. 2U, Inc. was founded in 2008 and is headquartered in Lanham, Maryland.

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Xunlei Ltd (NASDAQ:XNET) Short Interest Update

WINTON GROUP Ltd boosted its position in shares of Xunlei by 12.4% during the 4th quarter. WINTON GROUP Ltd now owns 28,279 shares of the …

Xunlei logoXunlei Ltd (NASDAQ:XNET) saw a large drop in short interest in May. As of May 31st, there was short interest totalling 1,638,200 shares, a drop of 13.2% from the April 30th total of 1,886,800 shares. Currently, 2.5% of the shares of the company are sold short. Based on an average daily volume of 684,900 shares, the short-interest ratio is currently 2.4 days.

Several hedge funds have recently made changes to their positions in XNET. WINTON GROUP Ltd boosted its position in shares of Xunlei by 12.4% during the 4th quarter. WINTON GROUP Ltd now owns 28,279 shares of the software maker’s stock valued at $96,000 after acquiring an additional 3,122 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Xunlei by 6.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 111,322 shares of the software maker’s stock valued at $381,000 after acquiring an additional 7,208 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Xunlei by 42.7% during the 4th quarter. Geode Capital Management LLC now owns 27,553 shares of the software maker’s stock valued at $93,000 after acquiring an additional 8,244 shares during the last quarter. Two Sigma Investments LP purchased a new stake in Xunlei in the 4th quarter valued at about $617,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in Xunlei in the 4th quarter valued at about $98,000. 11.59% of the stock is currently owned by hedge funds and other institutional investors.

Separately, ValuEngine raised shares of Xunlei from a “hold” rating to a “buy” rating in a report on Monday, April 1st.

Xunlei stock opened at $2.57 on Wednesday. Xunlei has a 1 year low of $1.99 and a 1 year high of $12.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.20 and a current ratio of 3.34. The company has a fifty day moving average of $2.67.

Xunlei (NASDAQ:XNET) last announced its earnings results on Monday, May 13th. The software maker reported ($0.13) earnings per share (EPS) for the quarter. Xunlei had a negative return on equity of 15.42% and a negative net margin of 28.88%. The business had revenue of $41.04 million for the quarter.

About Xunlei

Xunlei Limited, a cloud-based acceleration technology company, operates an Internet platform for digital media content in the People’s Republic of China. The company’s platform is based on cloud computing that enables users to access, manage, and consume digital media content. It offers Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet; and cloud acceleration subscription services that offer users premium services through various products, such as Green Channel and Offline Accelerator.

Read More: When can a hold rating present a buying opportunity?

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Xunlei Ltd (NASDAQ:XNET) Holdings Trimmed by CSat Investment Advisory LP

WINTON GROUP Ltd lifted its position in Xunlei by 12.4% during the fourth quarter. WINTON GROUP Ltd now owns 28,279 shares of the software …

Xunlei logoCSat Investment Advisory L.P. lessened its stake in Xunlei Ltd (NASDAQ:XNET) by 6.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 275,888 shares of the software maker’s stock after selling 20,016 shares during the quarter. CSat Investment Advisory L.P. owned 0.41% of Xunlei worth $1,010,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. lifted its position in Xunlei by 7.6% during the third quarter. BlackRock Inc. now owns 521,249 shares of the software maker’s stock worth $3,785,000 after purchasing an additional 36,944 shares during the period. Vanguard Group Inc lifted its position in Xunlei by 0.7% during the third quarter. Vanguard Group Inc now owns 973,578 shares of the software maker’s stock worth $7,068,000 after purchasing an additional 6,370 shares during the period. Legal & General Group Plc bought a new stake in Xunlei during the third quarter worth about $31,000. WINTON GROUP Ltd lifted its position in Xunlei by 12.4% during the fourth quarter. WINTON GROUP Ltd now owns 28,279 shares of the software maker’s stock worth $96,000 after purchasing an additional 3,122 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Xunlei by 6.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 111,322 shares of the software maker’s stock worth $381,000 after purchasing an additional 7,208 shares during the period. 11.59% of the stock is owned by institutional investors and hedge funds.

Separately, ValuEngine cut shares of Xunlei from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st.

XNET traded up $0.08 on Wednesday, hitting $2.71. 510,200 shares of the stock were exchanged, compared to its average volume of 799,586. The company has a quick ratio of 3.20, a current ratio of 3.34 and a debt-to-equity ratio of 0.04. Xunlei Ltd has a 12 month low of $1.99 and a 12 month high of $13.24.

Xunlei (NASDAQ:XNET) last posted its earnings results on Monday, May 13th. The software maker reported ($0.13) EPS for the quarter. The company had revenue of $41.04 million during the quarter. Xunlei had a negative return on equity of 15.42% and a negative net margin of 28.88%.

COPYRIGHT VIOLATION WARNING: “Xunlei Ltd (NASDAQ:XNET) Holdings Trimmed by CSat Investment Advisory L.P.” was originally published by Mayfield Recorder and is the property of of Mayfield Recorder. If you are reading this news story on another publication, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be accessed at https://mayfieldrecorder.com/2019/06/20/csat-investment-advisory-l-p-sells-20016-shares-of-xunlei-ltd-xnet.html.

Xunlei Profile

Xunlei Limited, a cloud-based acceleration technology company, operates an Internet platform for digital media content in the People’s Republic of China. The company’s platform is based on cloud computing that enables users to access, manage, and consume digital media content. It offers Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet; and cloud acceleration subscription services that offer users premium services through various products, such as Green Channel and Offline Accelerator.

Featured Article: Price to Earnings Ratio (PE)

Institutional Ownership by Quarter for Xunlei (NASDAQ:XNET)

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Xunlei (NASDAQ:XNET) Announces Quarterly Earnings Results

Finally, WINTON GROUP Ltd grew its position in Xunlei by 12.4% during the fourth quarter. WINTON GROUP Ltd now owns 28,279 shares of the …

Xunlei logoXunlei (NASDAQ:XNET) posted its earnings results on Monday, May 13th. The software maker reported ($0.13) EPS for the quarter, Morningstar.com reports. The business had revenue of $41.04 million for the quarter. Xunlei had a negative return on equity of 15.42% and a negative net margin of 28.88%. Xunlei updated its Q2 2019 guidance to EPS.

XNET stock traded down $0.03 during trading on Wednesday, reaching $2.29. 552,800 shares of the stock were exchanged, compared to its average volume of 824,028. Xunlei has a twelve month low of $2.26 and a twelve month high of $15.92. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.34 and a quick ratio of 3.20.

Separately, ValuEngine downgraded Xunlei from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st.

A number of hedge funds have recently added to or reduced their stakes in XNET. BlackRock Inc. grew its position in Xunlei by 7.6% during the third quarter. BlackRock Inc. now owns 521,249 shares of the software maker’s stock worth $3,785,000 after buying an additional 36,944 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Xunlei by 88.3% during the third quarter. Dimensional Fund Advisors LP now owns 104,114 shares of the software maker’s stock worth $758,000 after buying an additional 48,833 shares in the last quarter. Vanguard Group Inc grew its position in Xunlei by 0.7% during the third quarter. Vanguard Group Inc now owns 973,578 shares of the software maker’s stock worth $7,068,000 after buying an additional 6,370 shares in the last quarter. Legal & General Group Plc acquired a new stake in Xunlei during the third quarter worth about $31,000. Finally, WINTON GROUP Ltd grew its position in Xunlei by 12.4% during the fourth quarter. WINTON GROUP Ltd now owns 28,279 shares of the software maker’s stock worth $96,000 after buying an additional 3,122 shares in the last quarter. 11.59% of the stock is currently owned by institutional investors and hedge funds.

WARNING: This news story was first posted by Mayfield Recorder and is owned by of Mayfield Recorder. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright legislation. The correct version of this news story can be accessed at https://mayfieldrecorder.com/2019/06/05/xunlei-xnet-announces-quarterly-earnings-results.html.

Xunlei Company Profile

Xunlei Limited, a cloud-based acceleration technology company, operates an Internet platform for digital media content in the People’s Republic of China. The company’s platform is based on cloud computing that enables users to access, manage, and consume digital media content. It offers Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet; and cloud acceleration subscription services that offer users premium services through various products, such as Green Channel and Offline Accelerator.

Recommended Story: Diluted Earnings Per Share

Earnings History for Xunlei (NASDAQ:XNET)

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