Basic Attention Token up by 3.59% – Time to Buy BAT?
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- Basic Attention Token Experiences a Positive Price Movement: Time to Buy BAT?
- BAT: Earn Rewards for Watching Ads
- Brave Browser Adds Support for Solana Blockchain
The crypto market is still in the midst of its worst bearish run in months, with pressure from the traditional markets and fears of a possible liquidity crisis weighing on the prices of most major coins. However, investors remain confident that several coins can deliver gains, and many are looking to buy BAT because of its recent price gains.
In this analysis, we’ll look into the price gains of the digital asset and its catalysts.
BAT: Earn Rewards for Watching Ads
The Basic Attention Token (BAT) is the native token for Brave Browser – one of the most privacy-focused browser platforms in the world.
Brave was built to preserve users’ privacy on the web. The platform looks to provide a more viable alternative to big names like Apple’s Safari browser and Google Chrome. The browser is betting heavily on the future of Web3 and the internet, where privacy becomes a much more important issue for most internet users.
Brave launched BAT as a way of rewarding customers who watch ads on its platform. Instead of making it compulsory for their customers to watch ads, as is done on other browsers, Brave gives users the option to opt into the ad service. When a user watches ads, they get rewarded with units of BAT.
As the Brave browser continues to see increasing user numbers, the market expects more investors looking to buy cryptocurrency to buy BAT.
Brave Browser Adds Support for Solana Blockchain
Much of BAT’s price gains are a result of the developments with Brave Browser.
A few weeks ago, Brave announced its integration of the Solana blockchain and SOL tokens into its ecosystem. After originally revealing plans to do so in November 2021, Brave has made good on its word with the 1.39 desktop version’s release.
We've partnered with @solana to integrate it into the browser and make it the default for DApp support. We will soon bring best-in-class wallet features for the Solana blockchain into our desktop & mobile browsers. #BreakpointLisbon https://t.co/tTB7NXKWjI
— Brave Software (@brave) November 8, 2021
Users can utilise the Brave Wallet to buy, sell, and hold SOL tokens through the Ramp non-custodial payment platform, with the new version.
BAT has seen various changes as a result of the upgrade. Users will be able to wrap and utilize BAT as an SPL token on Solana if transferred through the blockchain’s Wormhole Bridge, according to Brave. Brave also plans to allow users to buy non-fungible tokens (NFTs) with BAT on Solana-based marketplaces.
BAT Technical Analysis
At press time, BAT trades at $0.29. This price peg represents a drop of 25.6% in the past month.
Despite its 3.6% jump in the past 24 hours, BAT still trades below all of its moving average (MA) indicators, from the 10-day MA of $0.3459 to the 200-day MA of $0.8062. Although this indicates that the digital asset remains in a dip, it could also present an opportunity for investors looking to invest in cryptocurrency to buy BAT and enjoy gains down the line.
With a negative moving average convergence divergence (MACD), BAT is giving off a sell signal. However, the crypto asset’s relative strength index (RSI) of 38.28 demonstrates that it is still trading in the underbought region. This could also present a good opportunity for investors to buy Basic Attention Token.
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