The price of BitTorrent’s BTT token surged 60% in the last twenty-four hours to $0.012. The surge is part of an ongoing rally that had BitTorrent hitting an all-time high of $0.014 at 1:14 AM UTC, and while it may have retreated a little, it's still up 226% from last weekend.
Several new updates to BitTorrent’s File System, announced yesterday on Twitter, could be the reason behind today’s growth. Updates include increased decentralization and the completion of a repair mode.
📢#BTFS Development Updates ✅Increase BTFS network decentralization. Guard decentralized testing on both client and server sides [50%] ✅Repair mode [done] ✅Challenge mode [doing] pic.twitter.com/ZRrS2racFj
This is by no means BTT’s first price rally. At the end of last month, the token’s price surged 80% in two days, prompting tweets of joy from the BTT team.
Most tokens are built around a smart contract template on the Ethereumblockchain called the ERC-20 standard. BitTorrent’s BTT token is built in accordance with the TRC-20 standard, a similar thing over on the Tronblockchain.
This is because Tron, a blockchain company headed by the extravagant crypto fan and big spender, Justin Sun, owns BitTorrent. In 2018, Tron bought the popular torrent and file sharing platform for $120 million.
Tron has its own currency, the TRON token, known by the ticker TRX. But it’s actually an ERC-20 token. Confusing, no?
XRP hits new ATH and other news
XRP surged by almost 20% overnight, briefly hitting 74 cents at 5:54 AM UTC. It’s since retreated to 72 cents at the time of writing, but the price hasn’t been above 70 cents since May 21, 2018.
This indicates a phenomenal recovery for the coin. This past Friday, XRP broke through the barriers of dissent and became more valuable by market capitalization than before its progenitors at Ripple were hit with a $1.3 billion lawsuit from the US Securities and Exchange Commission in December. According to the SEC, Ripple sold XRP as an unregistered security.
All this while the two most popular coins, Ethereum and Bitcoin, stagnate. Bitcoin trades at $58,737 as of this writing, while Ethereum trades at $2,084. They’ve barely moved at all since yesterday. Some surges here, some inertia: so far, so crypto!
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
Actor and noted crypto critic Ben McKenzie is set to make his directorial debut at SXSW London with the June premiere of his documentary, “Everyone Is Lying to You for Money,” according to a report by Deadline.
The documentary follows McKenzie—best known for roles on "The O.C." and "Gotham"—as he investigates the cryptocurrency world and interviews key figures, including during a trip to El Salvador to examine President Nayib Bukele's regime, which made Bitcoin legal tender in 2021.
“When I star...
Ethereum just lost one of its long-time institutional backers.
In a Thursday statement, algorithmic trading firm Two Prime announced it is dropping all exposure to Ethereum (ETH) and will exclusively manage and lend against Bitcoin (BTC) going forward, citing Ethereum’s unpredictable behavior, declining market momentum, and eroding institutional appeal.
Why Two Prime is Going BTC Only https://t.co/VtrQAUyGL0 pic.twitter.com/4BWVd8R7HM
— Two Prime (@Two_Prime) May 1, 2025
Two Prime didn’t say h...
Crypto asset manager 21Shares applied for an exchange-traded fund tracking the price of Sui, according to a filing with the U.S. Securities and Exchange Commission on Wednesday.
The 21Shares Sui ETF aims to broaden investors’ access to the native token of the layer-1 network designed for high-speed transactions, which has been dubbed by some as a “Solana Killer.”
The filing named Coinbase as a custodian to safeguard investors’ funds, according to the registration statement, but did not specify...