Monthly airdrops of BTT occur on the 11th of every month until Feb 11, 2025. The second airdrop occurred on Apr 11, 2019. Anyone who owned BTT prior to this date received free tokens.
On Mar 11, the price of BTT spiked rapidly and then dropped just as suddenly. In this analysis, we are going to look at the price on Apr 11 to see if price similarly spiked and fell.
To learn more about BitTorrent airdrops, click on the green button below:
SponsoredWe begin by offering a summary of March 11 and 12 price fluctuations:
March 11 BTT Airdrop
The price of BitTorrent (BTT) on Binance is analyzed at one-hour intervals from Mar 11 to Mar 12.
On Mar 11 at 00:00 (UTC+2), the price opened at $0.000748. A rapid increase ensued, and the price reached a high of $0.000869 a few hours later. This represented an increase of 16.32%.
SponsoredHowever, a similarly rapid decrease followed that brought the price back down to pre-spike levels.
On Mar 12, the price closed at $0.000752, less than 1% higher than the opening prices of Mar 11.
Now let’s see if something similar happened on Apr 11.
April 11 BTT Airdrop Price Fluctuations
SponsoredThe price of BitTorrent (BTT) on Binance is analyzed at one hour intervals from Apr 11 to Apr 12.
On Apr 11 at 00:00 (UTC+2) , the price opened at $0.000756. A rapid decrease ensued, and the price reached a low of $0.000630. This represented a decrease of 17.20%.
It is worth noting that the decrease on Apr 11 occurred throughout the cryptocurrency market.
However, an increase ensued the next day, bringing it to a high of $0.000766. At the time of writing, the price is trading 3% below the opening price of Apr 11.
Summary of Analysis
SponsoredPrice’s response to the airdrop was very different in March and April.
On Mar 11, the price initiated a rapid upward move before retracing to pre-spike levels. The opposite happened on Apr 11: BitTorrent initiated a rapid downward move before returning to pre-spike levels.
SponsoredTherefore, while a rapid movement has occurred after each airdrop, the direction of the movement has differed dramatically.
Do you think that the BTT airdrop will have an impact on price in the future? Let us know your thoughts in the comments below.
Disclaimer: The contents of this article are not intended as financial advice, and should not be taken as such. BeInCrypto and the author are not responsible for any financial gains or losses made after reading this article. Readers are always encouraged to do their own research before investing in cryptocurrency, as the market is particularly volatile.
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