Even though most cryptocurrency markets are not out of the woods yet, there is some interesting momentum to take note of. As far as the Basic Attention Token price is concerned, things are not looking all that bad right now. The altcoin has noted some strong gains over the past few hours, primarily due to a new Coinbase campaign.
Basic Attention Token Price Surges
When Bitcoin’s momentum remains somewhat troublesome, it appears to be a matter of time until all other markets follow suit in quick succession. While that has happened quite regularly over the past few days, it seems a reversal may be in order. More specifically, some markets have shown signs of rising in value despite the overall bearish pressure.
Over the past 24 hours, the Basic Attention Token price has noted a strong 12.8% gain. There is also a 13% gain over Bitcoin and an 11% improvement over Ethereum. Because of this somewhat unexpected uptrend, the value of BAT has risen to $0.1158 again. This is a pretty decent market trend, considering how most other top markets have either lost value or struggle to maintain their status quo at this time.
The main reason for this sudden interest in Basic Attention Token seems to stem forth from Coinbase. The company recently acquired the Earn.com platform and is now rewarding users with cryptocurrency for completing tasks. Their latest venture rewards users with $10 worth of BAT, which seems to have pumped the price a bit in recent hours. One would expect recipients to dump their tokens, but that is not happening as of right now.
Earn $10 worth of BAT with a new Coinbase Earn opportunity today. Check out the Earn page to view educational videos about Basic Attention Token and try out the blockchain-friendly Brave browser to begin earning. https://t.co/MBf0CsuqAp
— Coinbase (@coinbase) February 6, 2019
In fact, it seems this campaign has the opposite effect. A lot of people are now trying out the Brave browser as part of this Earn requirement. As such, they seem to mainly take a liking to what this new browser has to offer. At the same time, Brave still doesn’t support most of the common themes, plugins, or tools other major browsers provide. As such, it’s push to mainstream adoption will take a while longer, yet this appears to be a good start.
Did #coinbase earn for Basic Attention Token #BAT & I gotta say it was really impressive for #coinbase and a great overview of #BAT, the browser works really well, everything was clearly explained. I can see myself using this & recommending to people I know, legitimate use case!
— M!k3 (@crzykid71) February 7, 2019
KC Crypto investing is one of the people who is seemingly smitten by the Brave browser experience. While that is somewhat understandable, it remains to be seen if this interest remains in place once the hype surrounding this BAT promotion wears off. For the time being, that question remains difficult to answer, but it is certainly a possibility moving forward.
I've tweeted a lot about this tonight… but I started using the #Brave browser that uses #BAT #crypto. I'm a big fan of it. Completely blocks ads which greatly increases website speed. Especially the websites with a ton of ads. It keeps track of blocked ads. pic.twitter.com/ehRFmUXp6q
— KC Crypto Investing (@KCCryptoInvest) February 7, 2019
With so many “free” BAT tokens entering the market, one would expect the price to dump. However, it remains to be seen if people will effectively use this token for the browser-based purposes or decide to invest in Basic Attention Token because of the future potential. For the time being, there is no reason to expect an immediate trend reversal, although anything can happen in this volatile industry.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.