Cryptocurrency News

Bitget Will Support the BitTorrent (BTT) Contract Address Migration

The BitTorrent (BTT) token migration, 1:1,000 redenomination plan, and rebranding plan will all be supported by Binance. On the timeline below, you can find more information about this change:

  • Bitget will cease BTT/BUSD and BTT/USDT cross margin borrowing, as well as BTT/BUSD and BTT/USDT isolated margin borrowing, at 02:00 UTC on January 11, 2022.
  • Bitget will liquidate all BTT margin positions, execute an automated settlement, cancel all pending BTT margin orders, and delist BTT/BUSD and BTT/USDT cross margin trading pairs, as well as BTT/BUSD and BTT/USDT isolated margin trading pairs, at 02:00 UTC on January 14, 2022. For relisting, a separate notice will be issued.
  • Bitget Futures will terminate all BTT futures holdings, perform an automated settlement, cancel all pending orders on the BTT/USDT futures contract, and then delist this contract at 02:00 (UTC) on January 14, 2022.
  • All old BTT balances will be recovered, and new BTT will be distributed to all eligible users at a ratio of 1 BTT (Old) = 1,000 BTT.
  • The previous BTT tokens will be called BTTOLD after the token migration, while the new tokens’ ticker will be BTT.
  • After the token swap is complete, Bitget will issue a separate statement informing users when BTT deposits and withdrawals will be available.

Bitget, a centralized exchange based in Singapore, was founded in April 2018 and is headquartered there. Futures and OTC trading are supported. With over 936,000 registered users, Bitget promises to cover more than 40 countries.  It has regional offices in Japan, South Korea, and China and is growing into Southeast Asia (SEA) countries such as Indonesia, Vietnam, and the Philippines. Financial and Digital Currency Exchange licenses are held by it in the United States, Canada, Singapore, and Australia. BTT is a blockchain-based TRC-10 utility currency that enables aspects of the world’s most popular decentralized protocols and services. BitTorrent Speed, BitTorrent File System, DLive, and others are among the DApps powered by BTT. Read this BTT price prediction to know more.

Erica Lee

Erica is a finance professional who has over a decade of experience in the finance sector as a management consultant. After years of reporting on forex, stock markets, and finance, she now contributes her strong financial skills with the CoinNewsSpan team. Since 2014, she has been deeply involved in the blockchain and cryptocurrency space. She believes that blockchain technology has tremendous potential to make our lives better.

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