Ankish JainFollowing Grayscale's creation of a BAT-based trust and its formal inclusion in the well-known Japanese cryptocurrency exchange Bitbank, the Basic Attention Token (BAT) has gained a prominent position in the list of most-traded cryptocurrencies.
BAT's price closed at $0.77 on 7June 2021, according to CoinMarketCap statistics, representing a more than 300% rise in value from 1 January 2021, when it was valued at $0.21.
Approval on major exchanges and Grayscale's plan to create a trust of assets based on BAT have triggered its price rise.
This article discusses BAT crypto price prediction, fundamental analysis, technical analysis, analysts’ sentiment, news, and other relevant issues.
What is Basic Attention Token (BAT)?
Basic Attention Token (BAT) was created in 2015 by Brendan Eich, an American programmer who founded Mozilla and invented JavaScript. While there’s increased focus on NFTs and DeFi cryptocurrency projects, BAT was designed for data storage, handling and transactions. It’s the first token to concentrate on digital advertising.
Basic Attention Token, or BAT, is an ethereum-based utility token and ad-sharing business. It’s the native token of the Brave web browser, which is incorporated with an open-source, decentralised ERC20 utility token.
BAT is the driving force behind a new blockchain-based digital advertising network that aims to compensate consumers for their time online while also giving advertisers a greater return on their ad expenditure. The team's current objective is to further develop it into a viable commercial web browser.
How does BAT token work?
Brave effectively incorporates BAT tokens via Brave payment and BAT advertisements. It’s open-source and guarantees to preserve user's privacy.
BAT tracks online consumers' attention and time spent on websites using the Brave web browser. It also measures maximum engagement among millions of people. Users can choose to watch advertisements in return for a BAT token.
The idea is for consumers to see fewer ads, and ads more relevant to them, while protecting their data privacy rights. Advertisers conduct BAT transactions to acquire advertising space and market their products to users.
Advertisers and the BAT network earn income from user contributions as part of ad revenue sharing, with users receiving a large chunk of the income.
Users who view commercials in return for BAT token assist publishers and advertisers. The money raised by these adverts is divided as follows:
70% for users
15% for content owners
15% for Brave.
What makes BAT crypto unique?
BAT's inventors are attempting to change the way digital advertising performs work. Users are bombarded with trackers and advertising, which can contain malware. BAT's creators want to improve the internet experience for advertisers, consumers and creators.
Basic Attention Token, or BAT, is awarded to providers of digital adverts in exchange for user attention. They promote prolonged user interest by providing more efficient content.
Publishers’ revenue also rises. Users see fewer advertisements and more personalised content.
Another key aspect of the Basic Attention Token and the Brave Browser ecosystem is the ability to reward or tip users who are not yet network members. These individuals might sign up for the platform to gain collected tips.
BAT token news and highlights
In May 2017, during an Initial Coin Offering (ICO), the company raised $35m in just half an hour
In January 2019, BAT token achieved a huge landmark with 5.5 million active monthly users in the Brave browser and over 28,000 verified publishers
The BAT token has made an excellent comeback following recent falls in the cryptocurrency space, but as price rises, it’s encountering persistent resistance at $0.92-$1, and every price movement to the upside is quickly rejected
BAT tokens are a serious response to online privacy issues. As different web browsers become more intrusive by analysing user behavior and setting up targeted ads, BAT respects user privacy
The BAT platform is secured with a thoroughly tested proof-of-work (POW) based on a consensus algorithm within the extensive ethereum miner network. This confirms the validity of transactions.
BAT coin price prediction and technical analysis
According to CoinMarketCap, the BAT coin token hovers around $0.77 with a market capitalisation of around $1.1bn, as of 7 June 2021. It’s ranked 74th in terms of market cap, with a circulating supply of 1.4bn BAT coins and a maximum supply of 1.5bn BAT coins.
BAT technical analysis shows that the current price is down nearly 50% from its 30-day high and down more than 54% from its all-time high of $1.65. The price has increased significantly from its 30-day low of $0.45.
According to investing.com, the monthly moving average and technical indicators suggest 18 buy and five sell recommendations for the BAT token.
On the other hand, the weekly moving averages and technical indicators suggest eight buy and 12 sell recommendations, making it look like a poor investment in the short run.
However, Basic Attention Token has a "strong-buy" rating from analysts at investing.com based on its monthly technicals. The closest resistance lies at $0.84, with short-term support at $0.65.
Trade BAT to US Dollar - BAT/USD CFD
BAT token price prediction 2021-2028
Wallet Investor, an algorithmic forecasting tool, is bullish on the Basic Attention Token (BAT/USD) forecast. It expects BAT’s average price to reach $0.99 by the end of 2021 - that’s almost 20% growth by year end.
Average price by the end of 2022 will be $1.51, $1.98 by the end of 2023, $2.53 by the end of 2024, $3.04 by the end of 2025, and $3.32 by May 2026, according to Wallet Investor's long-term BAT coin to USD prediction .
According to DigitalCoin, BAT could reach $1.17 at the end of 2021, $1.30 at the end of 2022, $1.66 at the end of 2023, $1.96 at the end of 2024, and $2.35 at the end of 2025. BAT is expected to reach $3.59 by 2028. However, we should keep in mind that DigitalCoin estimations are usually on a conservative side.
Should you invest in BAT cryptocurrency?
If you are not yet ready to invest in BAT, you can always take advantage of its price fluctuations using contracts for difference (CFDs). BAT token has a potential for high returns due to its increased volatility.
Bear in mind that investing in volatile markets is risky. Capital.com allows you to speculate on cryptocurrency markets without owning the asset. Follow the BAT/USD pair in real-time and enter long or short positions based on your BAT price prediction.
