BitTorrent, which was launched in July 2001 and acquired by Tron in 2028, started to rise after Tron, the network on which it was published, completed the TRX burning.
At this point, TRON (TRX) stated that it aimed to tighten the token supply and announced that it held an important token burning event on February 14.
Tron said that 9.9 million TRX tokens were burned and removed from circulation in the last burn event.
Following this burning news, a slight change was observed in the TRX price, while BitTorrent (BTT) on the Tron network increased by up to 13%.
#TRON just burned 9,906,766 #TRX on February 14th 🔥 showcasing a commitment to deflation & value growth 🚀 With a net negative production ratio of -4,840,431 🤯 pic.twitter.com/TmlDJCsxKx
— TRON Community (@TronixTrx) February 15, 2024
While BTT reacted bullishly to positive news from the Tron network, historically TRX did not react as quickly to burn news, but BTT reacted well to positive news from Tron.
Because after the Tron blockchain reached 200 million users in December, BTT doubled.
TRX, currently ranked 12th in terms of market value, continues to be traded at $ 0.1313 with a market value of $ 11,563,389.713, while BTT ranks 71st in terms of market value.
BTT, which has a market value of $ 1,034,899,651, is traded at $ 0.000001072 at the time of writing.
*This is not investment advice.
