BTT surges over 16% amid Tron’s milestone

BitTorrent’s BTT token has seen a significant increase in its price, registering a 16% increase in the last 24 hours and around 14% in the last week.

As of the time of writing, BitTorrent (BTT) is up 7% in the last day and is trading at $0.00000091. This latest performance has brought its market cap to $889 million, making it the 78th largest cryptocurrency by market cap. Additionally, BitTorrent’s daily trading volume has increased by 793% in the last day, reaching $133.6 million.

The significant increase in BTT’s value can be attributed to a milestone achieved by Tron, the blockchain on which the BTT token is mined. Tron founder Justin Sun shared an X post from his on-chain data platform Token Terminal, which revealed that Tron generated ten times more fees than Bitcoin in August; this achievement is likely to have contributed to the bullish sentiment around BTT.

“Everything is just beginning. Don’t fight the numbers,” Sun said.

His statements and Tron’s performance have undoubtedly contributed to the current bullish trend around BTT, demonstrating the impact of major network milestones and influential figures on crypto asset prices.

BTT price, Bolliger Bands and RSI – September 9 | Source: crypto.news

Looking at BitTorrent’s price activity, the token is currently approaching $0.0000009136 on the 1D STRK/USDT chart, testing the upper Bollinger Band. The Relative Strength Index is currently at 61, suggesting that the token is experiencing an uptrend with potential for further growth before entering the overbought territory.

The increasing trading volume after the bounce from the $0.0000007456 support level suggests strong interest in the market.

The key support at $0.0000007456 remains critical for traders watching for potential moves. If the price breaks below this point, BTT could re-enter a downtrend.

Conversely, a break above the resistance at $0.0000009866 could push the token higher, potentially testing the psychological threshold of $0.0000010000. Moreover, if the resistance holds, we could see a period of consolidation or a retest of lower support levels.