Despite the instability of the cryptocurrency market, the BitTorrent ICO project went much better than expected. It took less than 20 minutes to sell about 60 billion tokens. In total, approximately $ 7 million was raised, and far from everyone could become investors.
It turned out that investors are ready to invest in projects with high potential. And at the ICO, it was decided to establish a limit on the maximum amount of purchase that cut off the major market players. One customer could not purchase BTT tokens of more than $ 20,000.
But even this restriction was not enough. Placing on the Binance Launchpad took less than 20 minutes. It took place in two stages, which allowed only 962 customers to realize their desires. A large number of users could not realize the application. Increased demand led to technical problems.
At first, the “buy” button was simply not displayed on the page, and then an error message popped up. Even many of those who saw the inscription “your application in the queue” did not receive the coveted asset. As a result, a wave of criticism fell on Binance. Investors are extremely dissatisfied with the quality of the ICO and express their opinions in a very negative way.
To solve the problem, the CEO of Binance Changpeng Zhao will offer to arrange a small free distribution of tokens to those who did not wait for the purchase. The conditions for holding airdrop ico BitTorrent are not yet known, but the site’s customers expressed satisfaction with this solution to the conflict. To avoid similar problems in the future, Changphen Zhao admitted the possibility of a more conservative sale of tokens. That is, the maximum purchase amount will be reduced.
It is worth noting that BitTorrent is not the first sale for tokens. At the initial stage, the team has already managed to collect about $ 20 million through private trading. A total of 89 billion BTT were issued, for which approximately $ 27 million was received. And the total emission of the project is 1 trillion BTT. Rough calculations show that BitTorrent’s total capitalization could exceed $ 1 billion.
In the future, the torrent team will continue to sell tokens. However, it is difficult to assess the potential demand for this financial asset.