Token

Burn

Foundation

BitTorrent

<a href="https://bitcoinworld.co.in/trx-token-burn-triggers-bittorrent-btt-token-surge-by-12/" title="TRX Token Burn Triggers BitTorrent (BTT) Token Surge By 12%" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">Tron completes TRX token burn and BitTorrent’s BTT token reacted to this news positively by surging 12% in price.</li>
 <li style="font-weight: 400">BitTorrent’s BTT token is issued on Tron, and reacted positively to the news even as TRX doesn’t move to the same extent</li>
</ul>
BTT, the eponymous token of BitTorrent, the peer-to-peer file-sharing platform owned by Tron, is <a href="https://coinstats.app/coins/bittorrent-2/" rel="noopener noreferrer nofollow">up</a> over 12% as the Tron network works through another burn of its TRX token.
Burning crypto involves permanently removing tokens from circulation by transferring them to an inaccessible wallet, often to reduce supply and potentially increase the value of the remaining tokens, and is considered to be deflationary.
In the past month, over 170 million TRX tokens have been removed from circulation, according to data from <a href="https://go.skimresources.com/?id=100652X1574425&amp;isjs=1&amp;jv=15.4.2-stackpath&amp;sref=https%3A%2F%2Fwww.coindesk.com%2Fmarkets%2F2024%2F02%2F15%2Fbittorrents-btt-surges-12-as-owner-tron-completes-trx-burn%2F%3Futm_medium%3Dreferral%26utm_source%3Drss%26utm_campaign%3Dheadlines&amp;url=https%3A%2F%2Ftronscan.org%2F%23%2Fdata%2Fcharts%2Ftrx%2Fsupply&amp;xs=1&amp;xtz=-60&amp;xuuid=2c1c142a0769553e9576b21a88af5468&amp;xjsf=other_click__auxclick%20%5B2%5D" rel="noopener noreferrer nofollow">Tronscan</a>, a block explorer. TRX is currently in a deflation phase with an annualized rate of decrease of 2.99%.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/solana-sol-price-analysis-uptrend-intact-above-100/" aria-label="“Solana (SOL) Price Analysis: Uptrend Intact Above $100” (Edit)" rel="noopener noreferrer nofollow">Solana (SOL) Price Analysis: Uptrend Intact Above $100</a>
Historically, BTT seems to react well to positive news from Tron, even if the TRX token does not move with the same <a href="https://coinstats.app/coins/tron/" rel="noopener noreferrer nofollow">velocity</a>.&nbsp;
TRX itself is only up 1.6% on the news, according to Coinstats data. In December, BTT surged and nearly doubled in a day after Tron’s blockchain hit 200 million users.
The U.S. Securities and Exchange Commission (SEC) sued the BitTorrent Foundation, BitTorrent Inc (now known as Rainberry), Justin Sun, and the Tron Foundation in March 2023, alleging that BTT and TRX constituted unregistered securities and Sun tried to artificially inflate TRX’s trading volume through wash trading schemes.
<blockquote>
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</blockquote>
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The post <a href="https://bitcoinworld.co.in/trx-token-burn-triggers-bittorrent-btt-token-surge-by-12/" rel="noopener noreferrer nofollow">TRX Token Burn Triggers BitTorrent (BTT) Token Surge By 12%</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

TRX Token Burn Triggers BitTorrent (BTT) Token Surge By 12%

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