The Basic Attention Token (BAT) is challenging the general trend of the crypto market, hitting an all-time high. The market cap of the entire crypto industry has plummeted in the past 24 hours, from $2.8 trillion to roughly $2.5 trillion. While the crypto markets are falling, BAT, the altcoin project behind privacy-centric web browser Brave, is currently challenging the drop. Details cryptocoin.com‘in.
This altcoin challenges
The Basic Attention Token (BAT) hit an all-time high of $1.81 early this morning, and the cryptocurrency is trading at $1.52 at the time of writing, according to CoinGecko. BAT is the native cryptocurrency for the privacy-focused web browser Brave. Instead of tracking users’ behavior and showing ads based on that behavior, Brave allows users to earn BAT for voluntarily viewing ads. They can also block all ads, but they do not earn any rewards for doing so. The cryptocurrency was launched through an ICO in 2017, bringing the firm $35 million.
For the possible reasons for the rise of the token, it is necessary to look at the latest announcements and updates from Brave. For example, earlier this month the browser went beyond the Ethereum network and launched an integration with the Solana network. Solana is a blockchain with higher throughput and lower fees. Brave turned to Solana for these benefits. Looking at Santiment, collecting data from social trends, specifically related to the keyword “BAT” will provide us with more information. The chart below shows that a large number of chats on Twitter, Reddit and Telegram for this period began to pile up on November 24. This metric exploded on November 25 and November 26 along with the price of the cryptocurrency.
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