A long-forgotten crypto asset is grabbing headlines as it makes its way to the top 10 after a blazing start to the year.
Peer-to-peer (P2P) file transfer token BitTorrent (BTT) is turning heads in the crypto space after recording gains of 4,817% this year, surging from $0.00029 on January 1st to a high as $0.01426 on April 5th, according to CoinMarketCap.
The coin’s market cap has increased by over 3,125% over the same timeframe from just around $310 million at the start of the year to a high of over $10.5 billion on April 4th.
There is no known fundamental catalyst driving BTT’s ascent.
It’s been a volatile ride for the crypto asset that began 2021 as the 63rd largest cryptocurrency by market cap. At its peak, BTT has managed to crack the top 10, albeit briefly. It has since pulled back and it is now sitting at the 20th spot.
Even though BTT is currently correcting, trader and crypto strategist Kaleo believes that the crypto asset has more gas left in its tank.
“BTT vs. HOT (Holo)
IT’S HAPPENING. We’ll probably accumulate right around .009 to a penny for the next day or so and then shoot past it for the final leg.”
At time of writing. BTT is valued at $0.01, down over 16% in the last 24 hours.Check Price Action
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Featured Image: Shutterstock/Tithi Luadthong/REDPIXEL.PL