The Basic Attention Token (BAT) is about to break out.
At the moment, it’s challenging a double top around 40 cents. If it can break above prior resistance, we believe it could challenge its May 2018 high of $0.5230.
However, we do urge caution at current prices
The coin is breaking high on news that Coinbase officially announced the listing of BAT on its exchange. In fact, according to the Coinbase blog:
“After 1pm PT on Friday, November 2, we will begin accepting inbound transfers of Basic Attention Token (BAT) to Coinbase Pro. We will accept deposits for at least 12 hours prior to enabling trading. Once sufficient liquidity is established, trading on the BAT/USDC order book will start. BAT trading will be accessible for users in most jurisdictions, but will not initially be available for residents of the state of New York.”
However, as we’ve seen with Ethereum Classic (ETC) and 0x (ZRX), momentum can begin to fade following the Coinbase announcement. The same situation may unfold with BAT once the markets had time to fully incorporate the news. Traders can always buy it on pullbacks. There’s still plenty to be excited about.
What is Basic Attention Token (BAT)?
The Basic Attention Token is a project built on the Ethereum blockchain that addresses three key groups in an advertising ecosystem. These include the users, publishers, and advertisers, for example.
At the moment, digital advertising publishers collect personal information about users that visit their sites. They then use this data to provide targeted ads to users. The revenue created by this process is what keeps the publisher in business.
Unfortunately for publishers, users have become quite numb to ads. In fact, they won’t even click the ads. As a result, in an effort to get a simple click, publishers will create obnoxious ads. However, in retaliation, users install ad blockers. That means less money for the publishers.
The BAT Solution to the Problem
The BAT Brave browser contains built-in privacy protection. This way the collection of private data goes out the window. However, it captures user behaviors, which it records on a ledger that can be used for targeted advertising.
With this browser, users can opt into receiving specific ads.
In return for clicking on an ad, users receive BAT tokens as rewards.
Therefore, users are monetized, while receiving fewer ads. Advertisers and publishers are happy with better revenue. In addition, developers no longer inundate users with garbage ads and the potential for fraud.
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