Sun Token and BitTorrent soar as Justin Sun’s cryptos jump

crypto.news

2024-08-21 05:06:34

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Justin Sun’s cryptocurrencies, such as Sun Token and BitTorrent, were some of the best performers on Aug. 21, as investors cheered the eco’s growth

Sun Token and BitTorrent tokens are soaring

Sun Token (SUN) rose by over 50% to a high of $0.0196, its highest level since 2022, and 143% above its lowest point this month. This rally has pushed its market cap to over $182 million

BitTorrent (BTT) jumped by over 25%, reaching a high of $0.0000010, its highest point since June. Other top tokens in the eco, like Tron (TRX) and Just (JST), rose by double digits

The rally happened as the eco continued receiving positive news. Last week, Justin Sun launched the SunPump platform, which has led to the creation of many meme coins already. Data by DefiLlama shows that SunPump has already accumulated over $1.5 million in assets

If the platform succeeds, Justin Sun will likely make millions Pump.fun, the pioneer meme coin generator, has already generated almost $100 million in revenues

Just, Sun Token and BitTorrent prices | Source: crypto.news## Tron has become a major part of the blockchain industry

Tron has also become one of the most successful blockchains in the industry. Data shows it has over 2.36 million active addresses, higher than Ethereum’s 335,000 and Solana’s 1.23 million

Tron also has a market cap of over $59.54 billion for stablecoins. Because of their stability, stablecoins have become essential in global transactions. Data by Tronscan shows that Tron has over 49 million stablecoin holders and handled a trading volume of over $46 billion on Aug. 21. Tron has also reportedly generated over $1.05 billion in fees this year.

Sun Token also jumped because of its eco growth. Its platform has a total value locked of $750 million, its highest point since 2022. In TRX terms, the TVL jumped to over $4.6 billion

BitTorrent’s eco is similarly thriving. The number of BitTorrent File weekly miners rose to over 8 million. At the same time, the total storage contracts jumped to 168 million, making the BTFS one of the most prominent storage solutions in the blockchain industry.

SUN and BTT tokens rallied even as Bitcoin and other cryptocurrencies wavered. Bitcoin has been stuck at $59,000 in the past two weeks while the total crypto market cap dropped by 2.6% to $2.19 trillion

SUN-0,46%

TOKEN1,05%

BTT-0,44%

OVER-0,13%

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