TRON's BitTorrent Tokens Sell Out in Minutes, Binance CEO Says ‘Demand Was Astronomical’

On Monday (January 28th), the public sale of TRON's BitTorrent Token (BTT) on Binance Launchpad ended in less than 15 minutes, with 59.4 million tokens sold in under 15 minutes.

On January 18th, cryptocurrency exchange Binance announced that its token launch platform, Binance Launchpad, would be exclusively offering TRON's BitTorrent Token (BTT) for the first time on January 28th starting at 15:00 UTC. Binance's blog post also mentioned that the BitTorrent Token sale would "run in two simultaneous sessions: one for purchases using Binance Coin (BNB) and another for purchases using TRON (TRX)," with 23.76 billion BTT for sale in the former and 35.64 billion BTT for sale in the latter. We were told that each BitTorrent Token would cost approximately US$ 0.00012, and that we would only find out the exct price on the day of the sale.

Well, the sale did start exactly at 15:00 UTC as scheduled. Per Binance's blog post on the sale results, the BitTorrent tokens on offer at both sessions sold out extremely quickly:

  • "In the BNB session, all 23.76 billion BTT were sold to token sale participants within 13 minutes and 25 seconds."
  • "... in the TRON session, all 35.64 billion BTT were sold within 14 minutes and 41 seconds."

Each BTT was priced at 0.00001824 BNB or 0.00447261 TRX, i.e. "1 BNB can buy 54,824.56 BTT, while 1 TRX can buy 223.58 BTT." Participants were allowed to buy "between 100,000 BTT (the minimum amount eligible for purchase) and 166,666,666 BTT (the maximum amount)."

Over on Twitter, this is what TRON Foundation CEO Justin Sun had to say about the sale:

And this is what Biance Co-Founder and CEO Changpeng Zhao ("CZ") said just before and after the sale:

 

Featured Image Courtesy of Binance