The BitTorrent (BTT) worth has been continuously declining since January 2022 however has risen to an 11-week excessive on Oct. 31 when the platform introduced a renewed product.
BitTorrent introduced the BitTorrent Net PRO on Oct. 31 on X (previously Twitter), which helped the asset’s worth rise to $0.00000052. However the surge was short-lived, and the BTT worth declined once more.
The announcement confronted criticism from many customers on X, saying that “buyers are dropping cash.”
In line with knowledge from the market intelligence platform Santiment, BTT’s worth volatility skyrocketed on Oct. 31, when the asset reached an area prime with a $41 million 24-hour buying and selling quantity.
Whereas BitTorrent’s worth volatility declined by half, the asset’s social quantity and worth nonetheless couldn’t maintain their place.
In line with Santiment’s knowledge, BTT’s social exercise has plunged by round 45% over the previous 24 hours, whereas its worth remains to be up by 14.7% over the previous seven days.
BTT is down by 8% up to now 24 hours and is buying and selling at $0.00000045 when writing. The asset’s market capitalization plunged to $435 million, making it the 83rd largest crypto asset.
BitTorrent’s 24-hour buying and selling quantity additionally declined by 22% over the previous day and is at the moment standing at $36.8 million.