BitTorrent Token (BTT), a cornerstone of the BitTorrent file-sharing platform acquired by TRON in 2018, has surged significantly, edging closer to a market capitalization of $1 billion. This remarkable growth, attributed to a new milestone in the parent blockchain, underscores the burgeoning success of TRON’s ecosystem.

The recent surge in BTT comes hot on the heels of TRON celebrating a monumental achievement: 200 million users. Notably, within this vast user base, a staggering 34,500,061 users hold USDT, representing 17.2% of all TRON users. This milestone not only signifies remarkable growth but also underscores the expanding ecosystem’s strength.

However, amidst these celebrations, Circle has stepped forward to clarify its relationship with Justin Sun’s “empire.” Responding to allegations from U.S. officials, Circle firmly stated that they had long severed ties with Justin Sun and associated companies. They emphasized no involvement in any illicit money laundering activities within the TRON network.

TRON currently stands as the custodian of assets worth $8.1 billion, representing the Total Value Locked (TVL) across DeFi protocols. It secures its position as the second-largest blockchain by both user count and TVL globally, trailing only Ethereum.

The surge of the overall crypto market has propelled BTT into a significant transformation following Justin Sun’s announcements. There were moments when the token’s price doubled in a single day. Presently, BitTorrent’s market capitalization hovers around $860 million. Daily trading volumes have soared by a staggering 1,155% to $363 million. Despite this surge, liquidity depth, a measure of the liquidity required to move an asset’s price by a certain percentage, remains relatively low at 2%.

However, amidst these successes, Justin Sun, along with Tron Foundation Limited, BitTorrent Foundation Ltd., and Rainberry Inc., faces a lawsuit from the U.S. Securities and Exchange Commission (SEC). The lawsuit alleges the unlawful sale of securities through regulatory bypass. The SEC specifically identifies TRON (TRX) and BitTorrent (BTT) as securities within the TRON network.

Source: https://azcoinnews.com/bittorrent-token-btt-80-surge-following-trons-200-million-user-milestone.html