Tron (TRX) price surged by more than 10% on Tuesday, 22 January, as investors prepare for BitTorrent’s BTT token airdrop.
Despite the bearish trend of the cryptocurrency market, TRX price continues to rise. Altcoin is cementing its positions among top 10 cryptocurrencies and showing no signs of slowing down. At the time of writing TRX is trading at $0.026, up by 10% in the last 24 hrs.
TRX price rally was triggered by the announcement of BitTorrent’s BTT token airdrop. As part of promoting its ICO, BitTorrent will hold a series of airdrops for the holders of TRX tokens of its parent company TRON. BTT tokens will be distributed proportionally, in a 1:1 ratio, BitTorrent explained yesterday, in a blog post on Medium.
Starting from 11 February, over the course of 6 years, BitTorrent will allocate part of the total cap of BTT tokens for distribution to TRX holders. Each year, the number of token reserved for an airdrop will increase by 0.1% of the total supply.