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Basic Attention Token Up 40% Over 7 Days

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Basic Attention Token (BAT) has recorded 16% growth in the past 24 hours, which adds to the total 40% gains made in the last week.

This time last week BAT was trading at a three month low of $0.19. The sudden spike in the last 24 hours combined with steady growth throughout the week has seen it recover to its pre-June crash price of $0.28.

Few coins or tokens in the Top-100 market cap rankings have recovered to their pre-’Sunday Bloody Sunday’ levels, but BAT is one of them.

BAT’s recent surge has seen it break into the Top-50, and the source of its rise shouldn’t be too hard to pinpoint.

Brave Browser Launch

A new web-browser was launched yesterday by the creator of Javascript and the co-founders of Mozilla Firefox.

The Brave browser is fitted to work directly with the Basic Attention Token, and rewards users for viewing targeted advertisements. Viewers of the ads are compensated for their ‘attention’, and are rewarded in BAT tokens.

The recent launch is undoubtedly related to the token’s strong performance over the past week, as curious denizens of the internet rush to see just how much money they can make for doing what they normally do – browsing the web.

As it stands, the end user actually ends up paying to be advertised to. Think about the bandwidth and computing resources required by advertisements. While that number may be small on any given page, it will soon amount to a huge chunk of your resources when accumulated over many web pages over many days.

With BAT, the user gets paid for their time and attention, and thus evens out the playing field as far as advertisers and consumers are concerned.

Fair Play

Co-founder of Firefox, and creator of Javascript, Brendan Eich, emphasized the fairness aspect, with the Brave/BAT combination threatening to upend the existing advertising paradigm. Eich was quoted as saying:

“The user deserves a share because their attention is being used up a little bit by ads. We’re working on better advertising that is truly private.”

Eich continued:

“The BAT is the token for re-monetizing the user’s attention, including the user in a fair play system. (BAT) is what denominates attention in the sense of user engagement in a way that is not likely to be abused and rewards the users.”

As good as all of this sounds, the jury is anything but out on Basic Attention Token. The ICO may have raised $35 million in just 30 seconds, but if the latest reports are anything to go by, the rewards that a person gains from focusing their attention on the ads do not amount to much.

Undoubtedly this will change if the platform gains adoption in higher numbers. Before BAT can push any higher up the rankings, it will need to show businesses why they should bother to advertise using BAT, and it will need to incentivize end-users to engage with the platform to a greater extent.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 23 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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Altcoins

Tron Price Gains 36% for the Week – Pushes Back Into Top Ten

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Today TRX coins have grown 13% over 24 hours, and continue to climb in value even as Bitcoin and Ethereum start to slow their rate of growth.

Tron began the day at $0.038 and then climbed to a peak of $0.0430 just a matter of minutes ago. That move pushed Tron’s market cap to just under $3 billion, and sent TRX back into the top ten in market cap rankings.

Going back to July 13th, just five days ago, TRX was priced at $0.0314, meaning today’s recent high of $0.0430 marks a 36% growth in less than a week.

Return to the Top Ten

Tron had been edged out of its prime market cap top ten location in recent weeks by Tether. Or rather, Tether moved up the market cap rankings owing to Tron’s fall. Today Tron has pushed back into the top ten for the first time in what feels like a long time, but is actually only a few weeks. Time slows down in the crypto world. The rollercoaster that a gold or silver investor went through over the last twenty years is experienced by the average crypto holder in the space of a week.

The surge into the top ten would have been helped in no small part by the 88% boost to Tron’s daily trading volumes over the past week – rising from $152 million, to $287 million at the time of writing.

Good Ol’ Hype

Tron’s market growth over the last week has been accompanied by a definite ramping up of the hype train. A quick Google search for ‘Tron trx’ opens up a first page with one Youtube video declaring Tron to be ‘better than Ripple’, and another proclaiming that Tron is the new Apple.

Such posts are viewed with suspicion by the community at large, but no corporate interference is necessarily required for crypto enthusiasts to engage in free shilling for their favourite altcoins.

Earlier today, Tron creator, Justin Sun, announced his intention to run as a candidate for one of the Tron network’s super-representative positions. Sun announced on Twitter:

“I am excited to run for #TRON Super Representative alongside excellent candidates, in the hands of our community. Voting is a crucial part of the #TRON ecosystem and embodies our mission of decentralization and democracy. Every vote counts!”

In a community that prioritizes decentralization, this move is certain to raise eyebrows. Sun already owns 10% of the total TRX token supply, and his presence within the day-to-day running of the Tron network might reek a little too much of ‘conflict of interest’.

But then, the alternative view is that if the network requires super representatives (essentially node operators) to service and govern the blockchain; who better than the guy who wants it to succeed the most?

Answers to these questions may only come when Tron either flies or fails, until then, enjoy the drama if you can.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 23 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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Altcoins

Stellar Price Up 77% for the Week as Protocol Gains Sharia Compliance

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The daily volume for the entire crypto market has jumped 144% in the last three days, up from $8.7 billion on July 15th to the current $21 billion at the time of writing. Every coin in the top ten is glowing green, with Stellar in particular showing tremendous growth for the day.

Earlier this morning XLM coins were trading for $0.23. Fast forward just over twenty hours and that price now sits at $0.318 – that’s a 38% increase for the day, and sets Stellar apart as the best performer in the top ten, run close only by Cardano’s 25%+ growth in the same time frame.

Just six days ago, on July 12th, one unit of XLM was valued at $0.179, meaning today’s price marks 77% growth for Stellar in less than a calendar week. Stellar has now smashed through the monthly high, recording its highest market value since May 22nd.

Stellar’s highest concentration of trade movement has come on Binance today, with BTC and USDT being popular trades. The Korean touch is also felt with around 18% of Stellar’s trades coming against KRW on the Upbit and GOPAX exchanges. The overall daily volume for XLM is currently 425% higher than it was this time last week.

Sharia Compliance

According to a Reuters press release which dropped just last night, Stellar has just received a certificate of Sharia compliance, one which will allow them to focus on bringing the 1.6 billion Muslim population onto the blockchain, so to speak.

Muslim adoption of cryptocurrency has always had to contend with religious money laws, but this recent development could be the watershed moment which changes everything – not just for Stellar, but the for the entire crypto market as it spreads across new lands.

Mansoor Ahmed, assistant general manager at Shariya Review Bureau, said that the technological aspects were never a sticking point:

““For the blockchain technology there was no issue, the main thing we needed to consider was the use of the underlying cryptocurrency”

The Islamic approach to finance is one that emphasizes real-world assets, and tangible value. The accumulation of interest, for example, is forbidden in Islamic society, and so it’s easy to see why there were concerns about cryptocurrency to begin with.

Coinbase and IBM

Stellar and Cardano were two of the coins mentioned in the Coinbase tweet earlier in the week, and the spikes they experienced at the time have compounded over the last 24 hours.

Meanwhile, Stellar’s close relationship with IBM continues to flourish this week as IBM launch their own stablecoin on the Stellar platform.

Stronghold USD is intended to be Stellar and IBM’s answer to Tether; although unlike Tether, one would expect much greater transparency from a company like IBM.

Jesse Lund, IBM’s vice president of Global Blockchain told Reuters:

“IBM will explore use cases with business networks that we have developed, as a user of the token. We see this as a way of bringing financial settlement into the transactional business network that we have been building.”

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 23 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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Cryptocurrency Market Cap Approaches $300 Billion as Bitcoin, Altcoins Continue Surging

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Cryptocurrencies were nearing an important psychological milestone Wednesday, as surging trade volumes propelled the market to its highest level in five weeks.

Market Update

The digital asset market has tacked on over $26 billion in the last 24 hours to reach $296.1 billion, according to CoinMarketCap. At this pace, $300 billion is likely within reach in the coming day. Total market prices have been capped below that level since June 12.

Daily trade volumes on global exchanges now exceed $20 billion for the first time since May. Three exchanges processed more than $1 billion worth of trades.

Bitcoin, which was the main catalyst for the rally, has retained a 43% share of the total market. The largest cryptocurrency by trading volumes and market cap is up nearly 11% over the past 24 hours to trade at $7,741. The bitcoin price peaked just below 7,500 overnight.

Altcoins have also picked up the pace, with all the majors reporting solid gains. Ethereum was up 6% as prices approached $500. Ripple XRP gained almost 9% to $0.513.

Stellar Lumens led the double-digit gainers with returns of 28.4% over the last 24 hours. XLM now sits at $0.296.

Cardano’s ADA coin jumped 19.6% to $0.181. Bitcoin cash, the no. 5 currency, rose 10.1% to $872.

Bitcoin Volumes Double

Bitcoin’s trading volumes have virtually doubled over the past week, as positive headlines surrounding adoption and regulation triggered renewed interest in the cryptocurrency. Hacked previously reported that daily trade volumes of $4 billion or greater are needed to sustain a meaningful rally for the bitcoin price. On Wednesday, bitcoin turned over nearly $6.6 billion.

Tether – a cryptocurrency pegged to the dollar that is often traded against bitcoin – continues to exhibit higher than normal trade volumes. On Wednesday, USDT trades generated $4.2 billion in volume, which is an all-time high.

Unlike previous rallies that appeared technical in nature, the latest uptrend was sparked by news that a trillion-dollar asset manager was exploring ways to enter the cryptocurrency market.

BlackRock, which controls over $6 trillion in assets, has assembled a working group to explore crypto adoption. In an interview, CEO Larry Fink said his firm is a “big student of blockchain” but that he does not see “huge demand for cryptocurrencies” at the moment.

Fink has changed his tune compared to last year, when he called crypto assets “an index for money laundering.”

Coinbase, a large and influential digital currency exchange, has also fueled positive sentiment after the firm said it had gained regulatory approval to begin listing security tokens. Last week, Coinbase also said it had short-listed five cryptocurrencies for future consideration on its exchange.

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 lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 499 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.




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