Basic Attention (BAT) was one of the handful of tokens in the green during the latest market downturn, which brought Bitcoin (BTC) below $7,000 again. In the past three days, BAT is on a breakout, going above the $0.30 level.
In the past 24 hours, BAT climbed gradually, starting off at $0.25, and adding a net 16% overnight as other coins and tokens continued to slide or underperform. BAT has achieved similar feats in the past, with peaks above $0.86. However, the asset often returns to much lower prices, wiping out the short-term gains.
The spike in BAT prices coincides with speculations that Coinbase would be completing its listing of Ethereum Classic (ETC) by the end of this week. In July, it said that exploring the addition of several new assets, including Cardano, Basic Attention Token, Stellar Lumens, Zcash, and 0x. However, the robust price performance of Ethereum Classic (ETC) has rubbed off on some of the other assets that Coinbase has taken up for exploration.
The Basic Attention project uses the BAT token for its Brave web browser, which has pledged to address issues in digital advertising like spam, mis-targeted ads and frustrating user experiences. Publishers would receive BAT micropayments based on visits, while readers have to own BAT to pay for reading their chosen content.
The biggest hurdle for the success of this project may be the drive to have enough people using the Brave browser, the MetaMask wallet, and actually acquire BAT. The token is available through the Exodus wallet, and is sold on many exchanges, but new users would still have to learn a lot about acquiring crypto assets in order to get BAT.
The Brave browser still has limited use, with around two million subscribers, and some people believe that BAT will not be the most popular coin to list on Coinbase:
The BAT token, which may continue to rise above $0.30 on the latest upturn, makes traders believe the price has a lot of hype built into it, and is set to deflate.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.