The BitTorrent (BTT) price has been constantly declining since January 2022 but has risen to an 11-week high on Oct. 31 when the platform announced a renewed product.
BitTorrent announced the BitTorrent Web PRO on Oct. 31 on X (formerly Twitter), which helped the asset’s price rise to $0.00000052. But the surge was short-lived, and the BTT price declined again.
BTT price, volatility, and social volume – Nov. 1 | Source: Santiment
The announcement faced criticism from many users on X, saying that “investors are losing money.”
The holders are only losing money… #BitTorrent Web Pro?? who will buy this??
— Kimsman (@hasoo_kim) October 31, 2023
According to data from the market intelligence platform Santiment, BTT’s price volatility skyrocketed on Oct. 31, when the asset reached a local top with a $41 million 24-hour trading volume.
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While BitTorrent’s price volatility declined by half, the asset’s social volume and value still couldn’t hold their position.
According to Santiment’s data, BTT’s social activity has plunged by around 45% over the past 24 hours, while its price is still up by 14.7% over the past seven days.
BTT is down by 8% in the past 24 hours and is trading 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 trading volume also declined by 22% over the past day and is currently standing at $36.8 million.
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