BitTorent Tokens Sold Out in 15 Mins Despite Technical Issues

Tuesday, 29/01/2019 | 09:22 GMT by Arnab Shome
  • The Tron team agreed to do a small airdrop for people who tried to place orders but were not successful in buying.
BitTorent Tokens Sold Out in 15 Mins Despite Technical Issues
BitTorrent

BitTorent tokens (BTT) saw a huge demand as, in the recently conducted token sale, tokens worth around $7.2 million were sold out in under 15 minutes.

Offered on Binance Launchpad, the token launch platform of Binance, BTT token sale ran in two simultaneous sessions - one purchase using Binance Coin (BNB) and the other using Tron (TRX). According to the officially published report, a total of 59.4 billion BTT tokens were offered, of which 23.76 billion BTT was kept for BNB token holders, while the other 35.64 billion were offered against TRX.

In both sessions, the tokens were sold within mere minutes of initiation of the token sale event - 13 minutes 25 seconds in case of the BNB offering and 14 minutes and 41 seconds against TRX.

Binance also revealed that 622 investors took part in the TRX session and 340 participants in the BNB session.

Both the founders of Tron and Binance are overwhelmed with the demand of the token.

The experience, however, was not good for all investors as many complained about technical issues with their order.

https://twitter.com/cz_binance/status/1089904398254239745

Luckily, both the founders addressed the issues of the token offering platform and announced an Airdrop to the investors with failed orders.

Criticsโ€™ Take

Despite the success of the token sale, the project had a fair share of its critics. Tomas Schultz, the co-founder and CEO of the cryptocurrency wallet management application Cha-Ching, raised questions about the size of the BitTorent platform as its popularity took a hit with the rise of streaming services in the recent years.

https://twitter.com/ThomasSchuIz/status/1089745156708937728

BitTorent tokens (BTT) saw a huge demand as, in the recently conducted token sale, tokens worth around $7.2 million were sold out in under 15 minutes.

Offered on Binance Launchpad, the token launch platform of Binance, BTT token sale ran in two simultaneous sessions - one purchase using Binance Coin (BNB) and the other using Tron (TRX). According to the officially published report, a total of 59.4 billion BTT tokens were offered, of which 23.76 billion BTT was kept for BNB token holders, while the other 35.64 billion were offered against TRX.

In both sessions, the tokens were sold within mere minutes of initiation of the token sale event - 13 minutes 25 seconds in case of the BNB offering and 14 minutes and 41 seconds against TRX.

Binance also revealed that 622 investors took part in the TRX session and 340 participants in the BNB session.

Both the founders of Tron and Binance are overwhelmed with the demand of the token.

The experience, however, was not good for all investors as many complained about technical issues with their order.

https://twitter.com/cz_binance/status/1089904398254239745

Luckily, both the founders addressed the issues of the token offering platform and announced an Airdrop to the investors with failed orders.

Criticsโ€™ Take

Despite the success of the token sale, the project had a fair share of its critics. Tomas Schultz, the co-founder and CEO of the cryptocurrency wallet management application Cha-Ching, raised questions about the size of the BitTorent platform as its popularity took a hit with the rise of streaming services in the recent years.

https://twitter.com/ThomasSchuIz/status/1089745156708937728

About the Author: Arnab Shome
Arnab Shome
  • 6342 Articles
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About the Author: Arnab Shome
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
  • 6342 Articles
  • 80 Followers

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