BitTorrent Token / Source: Adobe
BTT, the token that powers BitTorrent’s suite of decentralized peer-to-peer file-sharing applications, saw an explosive more than 75% move higher on Wednesday.
The move was driven by the time by an announcement that the Tron network, upon which the BTT token is issued as a TRC-20 token, had reached 200 million users.
As Tron celebrates reaching 200 million users, I want to extend a special shout out to @Tether_to and its developers. Remarkably, 34,500,061 users on Tron, which represents 17.2% of all our users, now hold #USDT.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) December 6, 2023
The lates BTT price pump saw it reach highs above $0.0000011 on Wednesday, its highest level since May 2022.
But the token has since dropped around 30% from these highs and was last trading around $0.0000008 and remains a highly risky potential investment.
Questions around the BTT token’s utility (it claims to aim to power a healthier BitTorrent protocol) may continue to deter potential investors.
Those looking to get into an alternative high-potential coin, but with a more convincing value proposition should check out a the token of a new Telegram-based crypto casino protocol called TG.Casino.
Telegram’s Latest Crypto Casino Attracts Big Players
An exciting Telegram-based crypto gambling upstart called TG.Casino has been taking web3 by storm.
2023 has been a big year for crypto gambling, with protocols like Rollbit seeing explosive user growth, and the platform’s native token also seeing big upside.
And TG.Casino is experiencing similar early success.
As per a recent update on the project’s X account, a staggering more than $38 million has now been wagered in the platform by over 2,450 players, with crypto deposits last at an impressive $3.7 million.
That’s despite the fact that the platform hasn’t even finished conducting its presale, which has raised over $3.5 million in just a few months thanks to the protocol’s exciting value proposition.
We have surpassed $3.5 million raised in the $TGC presale
On a scale of 1-10, how happy are you? pic.twitter.com/1tMabRKT2L
— TG Casino (@TGCasino_) December 6, 2023
But what is TG.Casino’s unique proposition?
Well, barriers remain high for non-crypto native users to bet using platforms such as Rollbit, given they need to navigate complicated concepts such as setting up, connecting and working with crypto wallets.
TG.Casino intends to do for crypto gambling what Unibot did for advanced crypto trading – simplify things with Telegram automation, whilst putting crypto gambling at the fingertips of Telegram’s 700 million (and rapidly growing) userbase.
TG.Casino also offers an exciting passive income opportunity.
Early investors are already making yields in the region of 170% (thanks to rewards specifically set aside for $TGC token stakers – all tokens bought in presale are automatically staked).
While this yield will fade over time as more money pours into the presale, $TGC holders will also benefit from TG.Casino’s planned token buyback scheme, which will provide passive income to $TGC token stakers and raise the token’s price through token burns.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.