Basic Attention Token is one of the best performing tokens out of the top hundred coins. The cryptocurrency garnered an increase of 26% during the day while the weekly performance surged by 16%. As the new month started, BAT started surging upwards and has been performing well. However, a recent downturn is being observed as the cryptocurrency fell by nearly 4% during the daily timeframe while the daily trading volume has fallen by 33%. At the time of writing, the token stands at a price level of $1.16. Basic Attention Token stands at a market rank of #82.
What is Basic Attention Token?
Basic Attention Token powers a blockchain-based advertising platform. The platform works similar to any traditional advertising; however, by incorporating blockchain technology, it completely decentralizes the whole process. Decentralization ensures transparency and increased efficiency through the elimination of middlemen and intermediaries. The aim of the network is to fairly compensate users for their attention as well as providing a better return for advertisers.
The protocol runs on Brave Browser. Brave is a free and open-source browser developed by Brave Software Inc. which is centered around privacy. Brave automatically blocks out advertisers and website trackers through its default settings to ensure greater privacy for users. The Basic Attention Token’s platform ensures privacy-preserving advertisements on Brave. Since the protocol runs on Brave’s browser, the network is closely linked to the browser.
Why is the token surging?
Brave Browser and Solana recently announced a partnership which resulted in Basic Attention Token gaining the limelight with its phenomenal upward surge. Through the partnership, Brave will integrate Solana’s blockchain into its browser. This will result in the provision of Solana’s ecosystem support to all the active users of the Brave browser. Moreover, Brave is also planning on utilizing Solana’s capabilities for multi-chain interoperability.
Brave is aiming to facilitate the mass adoption of Web 3.0 through its offerings. The partnership between Brave and Solana will result in increased traffic on the Brave browser and as Basic Attention Token’s advertising platform runs on the Brave browser, the partnership will also result in boosting the activity on BAT’s platform.
The partnership between Brave and Solana and Brave’s ever-growing presence in the market indicates good things for the future of Basic Attention Token. According to the estimates of Wallet Investor, the cryptocurrency is expected to be operating at a price level of $1.41 in a year’s time while the five-year projection estimates a price of $3.128.
