Basic Attention Token aka BAT has been on a wild ride since the start of 2019, as its prices have risen by approximately 190%. In the 24-hour time frame, the prices were up by 13% and in a 7-day time frame, the prices were up by ~26%. However, the prices indicate a slightly extended bullish signal which will take the token on another rally.
According to data from CoinMarketCap, the prices were trading at $0.33 and had a market cap of $420 million. The 24-hour trading volume was $50 million. ZB.COM was the greatest contributor to the trading volume as it provided 18% of the volume via BAT/USDT trading pair.
The moving averages indicated a bullish divergence, while the MACD indicator showed a possible bullish crossover for the token in the near future.
Moreover, a report by Glassnode Insights suggested that there has been an increase in the accumulation of BAT by whales over the last five months. According to their report, there were three addresses that held over $10 million worth of BAT.
In addition, the report also stated:
“… 52% of BAT tokens are held by only the top 0.6% of addresses!…”
It also summarized that the top 5% of the addresses held over more than 94% of all BAT and 1% of the addresses held 87% of BAT. The rise in interest towards BAT was attributed to a surprising reason.
“While the balance of the top 1% accounts had decreased from late 2017 to Oct 2018, it has since been rapidly surging, with the richest accounts increasing their holdings by +5% within the last 5 months! Whales have recently been accumulating BAT and the total amount they currently hold is at an All Time High.”
Brave, a browser that aims to redefine browsing, has seen a lot of success in recent times. A Twitter user @stshank, a senior writer at CNET news tweeted:
The @internetarchive has pulled in $2,500 in @AttentionToken payments & tips from @brave browser users. “unexpected windfall” is “proof that the current web, the one that’s driven by ads that know our every move, doesn’t have to be the web of the future.”
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Basic Attention Token surges by over 6% as Ad Launch nears
The cryptocurrency market appears to be bleeding, however, few altcoins have reported small surges over the past few days, like Basic Attention Token [BAT].
The coin, on April 18 when the entire market was mostly red, surged by over 10% and was trading at $0.3618, its all-time high since July 2018. On April 20, BAT reported a growth of over 6% and was valued at $0.3947, breaking its immediate resistance.
BAT reported a market cap of $493 million and a 24-hour trading volume of $57 million. The coin noted a 6.47% rise in its price over the past day and reported a seven-day surge of 31.20%. BAT continued to register a growth of 1.18% over the past hour.
Crypto-enthusiasts speculate the reason for the surge in prices to be the launch of advertisements on the Brave Browser this month. The BAT token is essentially based on entertainment and can be obtained through a variety of advertising and attention-based services on its platform. According to Twitter user @CryptoNilla,
“They are about to launch ads this month hence the pump.”
BAT was highly traded on ZB.COM exchange as it noted a volume of $8 million via the BAT/USDT pair. The second place was taken by Binance, the largest cryptocurrency exchange as it reported a trading volume of $7 million via the BAT/BTC pair. IDCM was on the third place with $6 million in volume via the BTA/BTC pair.
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