The BitTorrent team revealed that it had burned more than 58.6% of its BTT tokens via a tweet on Friday. This means it has burned more than 581 billion of its total 990 billion BTT token supply. The token burn is part of the community’s redenomination plan as the project migrates from the BTT token to BTTC.
The BitTorrent token is a TRC-10 token on the Tron blockchain. The BTT token intends to build a token-based economy for networking, bandwidth, and storage resources on the existing BitTorrent network,
BTTC is trading at $0.00000112 at press time, up by more than 3% in the last 24 hours.