TRON's BitTorrent ICO Raises $7 Million in 15 Minutes

Binance Launchpad, the token launch platform of Binance, conducted an ICO of TRON's BitTorrent tokens on Jan. 28th., with tokens selling out in less than 15 minutes.

Almost 60 billion tokens were sold, raising a total of $7 million.

Data has shown that the Binance Coin session lasted 13 minutes and sold 23.8 billion BitTorrent tokens, while the TRON session closed in just over 14 minutes, selling 35.6 billion BTT. BitTorrent tokens were priced at 0.00001824 BNB or 0.00447261 TRX at the point of sale, both roughly equivalent to $0.000115 at the time.

Judging by trading prices at the time of the sale, the company sold tokens worth over $7 million in less than 15 minutes.

The enthusiasm surrounding the token sale has made BitTorrent's ICO the most successful offering of the year, so far.

Despite CZ's quick response, dozens of users have criticized the process, saying they were unable to buy tokens.

Some users suspected foul play, pointing out that the sell-off started with more than 28 percent of the tokens already sold.

Later, Changpeng Zhao confirmed the BitTorrent token airdrop aimed at those who were unable to buy the tokens during the official sale.

Overall, the successful token sale serves as a morale booster for the crypto community, which hasn't seen in a strong ICO in months.

The successful token sale demonstrates that a well-orchestrated ICO can still successfully raise funding.