BAT is up by 11.98% against the crypto deity, Bitcoin (BTC).
Basic Attention Token (BAT) has been trading with a higher volume in the recent trading session. The crypto market has shown it’s here to stay for a long, long time. Comparatively, the market looks much stable and in control as compared to back in 2017 and 2018. When we talk about the market, it’s still Bitcoin who’s leading it.
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However, over the past three years, other digital currencies and altcoins have grown with confidence and have developed a more solid ecosystem. Basic Attention Token is growing but still, it has a way to go. The recent bulls have carried the stock quite higher with the start of March.
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What’s happening?
Basic Attention Token (BAT) is up followed by a strong volume today. On Feb 26, 2021, the digital asset of BAT went through its largest daily exchange outflow to date. Around 1.15% of BAT’s total supply left crypto exchanges, following that the digital asset soared over 9%.
This breakthrough was backed by Santiment, sharing its thoughts on Basic Attention Token’s largest exchange outflow. They shared their thoughts with the following statement:
“BAT has decoupled from $BTC, & is one of the few altcoins in the green.
Its+9% rise the past hour comes after the largest Basic Attention Token exchange outflow in 7 months earlier, & biggest single-day supply drop from exchanges (-1.15%) of all-time.”
Moreover, the crypto asset has largely benefited from Grayscale’s decision regarding BAT trust. The massive pull out of BAT from the exchanges reflects that whales are accumulating Basic Attention Token.
Another major aspect that might have played the role of catalyst in shaping a bullish start for BAT on Monday is Brave’s user base surpassing 25.4 million. Brave, aprivacy-centric web browser built on Basic Attention Token (BAT) has seen a massive rise in monthly active users more than doubling in a year.
Brave blocks ads and restricts websites from tracing individual’s movements on the internet. In return, Brave rewards them with BAT tokens for opting advertisers. Moreover, these tokens are also used to reward content creators and publishers through the browser’s in-built wallet. The tokens can be exchanged for other digital coins, as well.
The increase in daily active users base from 3.8 million to 8.6 million increasing the volume of BAT tokens being owned by more and more users.
Conclusion
In the long-term, the indicators show that Basic Attention Token (BAT) is bullish and a breakout above $0.68, crossing its all-time high. As we write this, BAT was trading around $0.58, up by 25.35% and 11.96% against BTC.
