Basic Attention Token (BAT) Quietly Racks Up 42% Gains on Coinbase Anticipation

Basic Attention Token (BAT) has been quietly recording day on day growth for the last four days as anticipation builds regarding a Coinbase listing.

The value of BAT has increased by 42% in that time, as public opinion leans toward the theory that BAT’s ERC-20 foundation makes it a prime candidate to be the next token listed on Coinbase.

This follows on from the recent listing of Ox (ZRX), which resulted in the token gaining 44% on its value in just over twenty-four hours. Attention has now turned to BAT, and trade volumes hit a three month high this week, all without any real confirmation from Coinbase.

BAT/USD

As of Friday afternoon BAT had grown by 15% in the preceding twenty-four hour period, arriving at a peak price of $0.242660. The last four days were marked by day on day growth, and by Friday afternoon’s peak BAT had risen 42% in value.

Furthermore, the monthly gains for BAT stand at 65%, showing a clear rise in momentum within the last week. The current valuation returns the altcoin to its valuation prior to the September crash. For Bitcoin and Ethereum to say the same, they’d have to reach valuations of $7,400 and $295 respectively.

The majority of trades came on Binance on Friday – 50% of the $14 million total. The BAT/BTC trade was the main mover, and racked up eight hours of green candles between 04:00 and 14:00 UTC.

Coinbase Effect

The whole Coinbase saga began for BAT over three months ago, when the exchange released an announcement stating they were considering the listings of five particular cryptocurrencies. Stellar (XLM), Cardano (ADA), Ox (ZRX), Zcash (ZEC) and Basic Attention Token (BAT) were the cryptos named, and all recorded double digit growth on the day of the announcement.

Even after Coinbase released another statement reminding people that the coins were merely ‘under consideration’, their values continued to surge.

Now, given the ERC-20 structure of BAT, it appears likely that the token will be the next one added to Coinbase. The underlying structure of a coin or token is one of the things an exchange must consider when adding a cryptocurrency. The recent additions of Ethereum Classic (ETC) and Ox (ZRX) suggest that the exchange now has a handle on Ethereum-based tokens.

New Brave Browser

Today also marked the release of the updated Brave Browser – the privacy focused web browser which pays users in BAT for time and attention. The new browser is being hailed as 22% faster than the previous version. According to the Brave twitter feed:

“Our new desktop browser has a 22% faster load time on average than our exiting Brave Muon version. That’s as much as 8-second faster page loads on certain sites.”

The Brave Browser hit four million downloads in September, making it one of the most utilized crypto-based applications to date.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can’t afford to comfortably
Author:
Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.