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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August 25, 2019: Basic Attention Token (BAT): Up 3.37%

As for the Basic Attention Token’s smart contract itself, that owns 0.02% of the total money supply, an amount unchanged from the week prior.

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How Did Basic Attention Token’s Price Fare Yesterday?

Basic Attention Token is up by approximately 3.37% from the previous day, with its price currently hovering around $0.2027 USD. The up day for Basic Attention Token yesterday was a reversal from the day before it, which puts its price at 4.29% above its 20 day moving average. Over the past two weeks, price has been in a unclear trend. Traders looking for a range to trade within may wish to note that the Bollinger bands (a price indicator based on recent momentum and volatility) for Basic Attention Token imply the currency may oscillate between $0.167662 and $0.221078, based on how price has behaved in the two weeks prior. Given its boundaries, rangebound traders may find it compelling to entertain selling, as we are nearer to the top of the range.

Where to trade Basic Attention Token (symbol: BAT): Gate, Yobit, Binance, DDEX, Ethfinex

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The currency’s market cap currently stands at $260 million US dollars.

Daily Engagement Metrics Update

Over the past 24 hours, 1,188 transfers have been added to the blockchain recording transactions amongst holders of Basic Attention Token. Regarding a tally of holders, Yesterday saw Basic Attention Token’s wallet count jump by 206. To provide context, we’d rank this token as 14 out of the 32 Ethereum tokens in our index based on percentage growth in engagement over the past 7 days.

Just How Rich are Basic Attention Token’s Richest Holders?

In terms of wealth concentration, the richest 1,000 wallets own 87.6% of the coin’s total money supply. Drilling down to just exchanges, the top 1,000 wallets that are exchanges control 3.37% of the currency’s money supply. The week over week growth rate in the share of the total supply of the top 1,000 wallets has changed by -0.06%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by -0.06%. As for the Basic Attention Token’s smart contract itself, that owns 0.02% of the total money supply, an amount unchanged from the week prior.

Technical Development Status

Basic Attention Token hasn’t had any activity on any of its GitHub repos since August 23, 2019 — 2 days prior. Over the past 30 days, we’ve seen open issues across Basic Attention Token’s GitHub repositories grow by 0 per day on average, while the number of watchers has grown by 0.3.

What’s Going on Social Media?

In the past day, Basic Attention Token’s Twitter followers and Reddit subscribers went up by 69 and 37, respectively. Traders interested in following Basic Attention Token has the biggest presence on Twitter, where it has 105,335 users engaged. Here is the Twitter page for Basic Attention Token.

Where to Buy

You can trade Basic Attention Token, listed under the symbol BAT, through the following exchanges: Gate, Yobit, Binance, DDEX, Ethfinex.

Article by SixJupiter

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August 25, 2019: Huobi Token (HT): Up 0.25%

The top 1,000 Huobi Token wallets hold over 95.57% of the token’s total money supply. Huobi Token’s smart contract owns approximately 0% of its …

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How Did Huobi Token’s Price Fare Yesterday?

Huobi Token’s current price, at the time of this writing, is $4.81 USD, up by approximately 0.25% from the day prior. The past 24 hours mark a reversal in price from the day prior; it should be noted, though, that price is still in a down trend, and is currently 2.62% below its 20 day moving average. Staying above this level may be critical to sustain short-term momentum. In terms of an expected trading range, the Bollinger bands on Huobi Token suggest price may bounce between $4.744325 and $5.134575 based on its momentum and volatility over the past 14 days. As we are closer to the bottom of that range, rangebound traders may wish to consider exploring buying opportunities.

Where to trade Huobi Token (symbol: HT): Gate, Yobit, DDEX

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The currency’s market cap currently stands at $243 million US dollars.

Straight Off the Chain

No transactions amongst holders of Huobi Token occurred yesterday. In terms of estimating the number of holders, over the past day the total number of wallets holding Huobi Token has gone down by approximately 0. To provide context, we’d rank this token as 12 out of the 32 Ethereum tokens in our index based on percentage growth in engagement over the past 7 days.

How are the Strong Holders of Huobi Token Faring?

The top 1,000 Huobi Token wallets hold over 95.57% of the token’s total money supply. Huobi Token’s smart contract owns approximately 0% of its own total money supply. This amount hasn’t changed over the past week.

Huobi Token’s Social Media Presence

Social media growth, in terms of Twitter followers and Reddit subscribers, came in at up 100 and 1 over the past day for Huobi Token. If you are interested in following Huobi Token on social media, Twitter, where it has 124,412 following it, may be a good place to start. You can follow Huobi Token on Twitter here.

Where to Buy

You can trade Huobi Token, listed under the symbol HT, through the following exchanges: Gate, Yobit, DDEX.

Article by SixJupiter

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August 22, 2019: Huobi Token (HT): Down 0.52%; 2nd Straight Down Day

Huobi Token’s smart contract owns approximately 0% of its own total money supply. This amount hasn’t changed over the past week.

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How Did Huobi Token’s Price Fare Yesterday?

Huobi Token is down by approximately 0.52% from the previous day, with its price currently hovering around $4.825 USD. Huobi Token enters the day 2.04% below its 20 day moving average, and is experiencing its the 2nd day in a row down. Huobi Token’s expected trading range — as forecasted by the Bollinger bands indicator, which determines a range based on momentum and volatility over the past two weeks — is between $4.736806 and $5.114594. Price’s current proximity to the bottom of the range may make buying an attractive opportunity to traders interested in trading the range.

Where to trade Huobi Token (symbol: HT): Gate, Yobit, DDEX

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The market capitalization of Huobi Token, or the amount of US dollars it would take to buy up all the circulating coins, is currently estimated to be $241 million.

Update on Transactions and Holders

Over the past 24 hours, 702 transfers have been added to the blockchain recording transactions amongst holders of Huobi Token. As for the number of holders, yesterday saw the number of wallets holding Huobi Token jump by 31. Our engagement rank, which combines weekly percentage growth in number of holders and number of transfers, has Huobi Token ranked 11 out of the 34 Ethereum tokens we’re tracking.

Just How Rich are Huobi Token’s Richest Holders?

In terms of wealth concentration, the richest 1,000 wallets own 95.56% of the coin’s total money supply. Huobi Token’s smart contract owns approximately 0% of its own total money supply. This amount hasn’t changed over the past week.

Huobi Token’s Social Media Presence

Social media growth, in terms of Twitter followers, came in at up 83 over the past day for Huobi Token. If you are interested in following Huobi Token on social media, Twitter, where it has 123,966 following it, may be a good place to start. Here is the Twitter page for Huobi Token.

Where to Buy

You can trade Huobi Token, listed under the symbol HT, through the following exchanges: Gate, Yobit, DDEX.

Article by SixJupiter

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Tezos Price Analysis: Bearish Trend is Likely to Continue

The Tezos coin is holding the mark of $1.13 at the time writing with -3.23% changes in 24 hours. Tezos lost almost -29.42% in the past ten days as a …

The Tezos coin is holding the mark of $1.13 at the time writing with -3.23% changes in 24 hours. Tezos lost almost -29.42% in the past ten days as a result of selling pressure from sellers. The ROI of XTZ is holding the green value of 140.18%.

Tezos News and Events

Tezos foundation announced that Cryptoeconomics Lab, a Japanese based firm, will construct a plasma layer, double-wall scaling system, on Tezos to liquidate transactions through blockchain technology.

The Tezos Foundation is thrilled to announce that Cryptoeconomics Lab, based in Tokyo, Japan, has received a grant to develop a Plasma layer on Tezos. Plasma is a layer-2 scaling technique to increase transaction throughput on blockchain.

Tezos Price Statistics

The market capitalization of the token is standing $745,473,919 USD and 73,791 BTC. The twenty-four-hour volume is revolving around the pivot line of $11,315,499 USD and 1,120 BTC. There are about 660,373,612 XTZ tokens that are in circulation out of a total of 801,312,599 XTZ tokens.

Current Price of Tezos

The current rate of Tezos is $1.13 USD and 0.00011174 BTC at the time of writing.

Tezos Price Comparison

The 6-months data chart given below justifying the behavior in the given period of time as the tag value of coin wandering around $0.40 in the first two months of 2019. The trend line then triggered from $0.40 to attain the mark of $1.46 in the month of April.

The highest value of token was recorded on 18 May holding the figure of $1.86.The first quarter of 2019 was not very fortunate for Tezos as its trend was submerged in the bearish trend zone.

Price Prediction of Tezos

The parabolic movement of the coin started from $1.01 on 30th July to $1.10 on the 15th after touching the sky mark of $1.40. The similar short replica of parabolic movement is seen, started from $15 August giving an indication of the bearish trend in the future.

The price value of the token may drop to $0.80. The two strong support level holds the positions at $1.04 and $1.01 respectively. On the other hand, the trend line will bear the resistance levels at $1.236 and $1.255 respectively.

Conclusion

According to the technical analysis, there are chances that the coin will remain submerged in the bearish trend that started 15th August.

What do you say about the price of Tezos? Let us know in the comment box.

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