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Basic Attention Token [BAT] undergoes 113% surge; reaches five-month high



Basic Attention Token [BAT] undergoes 113% surge; reaches five-month high
Source: Unsplash

The strength of the bears seems to be diminishing after almost a year as many coins are seeing substantial gains. Basic Attention Token escaped the clutches of the bear as it has soared by a massive 113% in a month.

The 113% rise in the price was due to a rally that started on February 06, 2019, which is still underway. The rally broke the highs formed in December 2018 and went beyond it to reach the prices that were last seen in mid-November 2018. Moreover, the rally took only 30 days, which surprised the cryptocurrency community due to the ongoing bear market.

Source: TradingView

At press time, the price of BAT was $0.1947 and the market cap was $237 million. The token sprung from rank 35 to rank 26 in just two months. The token was ranking 29th in November 2018, but fell down to the 31st rank in February, when the prices sank as low as $0.1011.

The rumors about Samsung Galaxy S10 and Enjin wallet are one of the reasons why the community speculates a massive boost in prices. Enjin-Samsung Galaxy partnership was revealed during the Mobile World Conference in Barcelona. While revealing the Blockchain Keystore at the MWC, Enjin’s crypto-gaming interface was also showcased, confirming the speculation of a partnership between the two companies.

Leaked images of the new Samsung Blockchain keystore reportedly showed the BAT logo embedded within the Enjin Wallet, raising the prospect of a potential partnership between Basic Attention Token and the smartphone. Enjin Coin has also pumped by a massive 70% due to the rumors surrounding the company and Samsung.

BAT’s team was also present at the Mobile World Conference, which was confirmed by their tweet:

“Our team recently returned from #MWC19 @GSMA in Barcelona. Here’s a recap of our activities, as well as a glimpse into our experiential booth that focused on our ad platform built on privacy.”

Apart from the above, there are rumors of a partnership between Reddcoin and Basic Attention Token in the Twitter/cryptocurrency-space. In addition to the above, the Brave Browser that makes use of BAT, recently hit 20 million downloads and the community speculates the development as one of the reasons for the rise in prices.

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.