Basic Attention Token (BAT) Grows Amid Rumors of Coinbase Support
Perhaps not one of the most known and recognized virtual currencies, Basic Attention Token (BAT) – currently the 37th most valuable crypto – has experienced an important price increase in the last weeks. This situation has been generated because there are some rumors and important possibilities that Coinbase could add support to it.
First of all, Basic Attention Token wants to improve the efficiency of the advertising industry. Publishers, advertisers and users on the Ethereum blockchain would be able to exchange the BAT cryptocurrency. BAT is a utility token that is based on the user’s attention and engagement.
Coinbase announced a few months ago that it was exploring different virtual currencies. Among those, we could find BAT and 0x (ZRX). Now, some weeks ago, Coinbase decided to add support to 0x. The other virtual currencies that Coinbase mentioned were Cardano (ADA), Stellar Lumens (XLM) and ZCash (ZEC).
According to CoinMarketCap, Basic Attention Token has experienced a substantial increase over 10 days ago. On October 15, BAT was being traded around $0.1813 dollars and it moved up to $0.2908 on October 22. That represents an increase of 60% in just a few days.
The other virtual currencies mentioned by Coinbase, XLM, ZEC and ADA have also been growing in the past days after the San Francisco-based firm decided to add support to ZRX.
On September 25, Coinbase also announced a new asset listing process aimed at rapidly list all assets that meet the standards and that are compliant with local law and legal framework.
Coinbase is currently supporting Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ethereum Classic (ETC) and 0x (ZRX). In the near future, new assets could be added, including all those mentioned before.
At the moment of writing, BAT is being traded around $0.25 dollars and has a market capitalization of $251 million dollars. However, in the last 24 hours, the virtual currency experienced a 10% correction. Nevertheless, the virtual currency is being traded 50% higher that some days ago.