The Brave Attention Token (BAT) price rebounded on Thursday as the overall market sentiment improved. The token has jumped by more than 20% in the past 24 hours. It is trading at $1.26, which is about 200% above the lowest level in July this year.
What is the Basic Attention Token?
Brave is a relatively new and fast-growing browser that is attempting to disrupt an industry that is currently dominated by Google. The browser uses a relatively unique model compared to Google Chrome and Microsoft Edge.
For one, Brave has an inbuilt ad-blocker, meaning that you can block most ads when surfing. It also has more advanced privacy features. Most importantly, Brave offers its own adverts that users can turn off.
Users who opt in to see ads in the network are paid using the Basic Attention Token. At the same time, these users can decide to auto contribute their tokens to preferred websites. As such, this creates a relatively win-win situation for users and publishers.
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In the past few years, Brave has acquired some big companies to advertise on its platform. Some of the top advertisers are The Sandbox, Axie Infinity, PayPal, and SoFi. It has also added more than 30 million monthly active users. It is used by more than 10 million users every day.
I am one of those users. In the past few months, I have used the Brave mobile browser and accumulated 6.250 BATs. These are now worth about $8. Therefore, while it is difficult for Brave to make you rich, I think it is a better option than Google which pays you nothing.
The developers have also introduced new features in the ecosystem. It has launched a privacy-focused search engine and a video and audio calling service. They are also about to introduce the BAT utility for search engines and features to enable people shop with the token.
BAT price prediction
The daily chart shows that the BAT price has been in a tight range in the past few days. The coin has formed a bullish pennant pattern that is shown in pink. The price is also slightly above the key resistance level at $1.0325, which was the highest level on September 15. It is also above the 25-day and 50-day moving average.
Therefore, the Basic Attention Token will likely have a bullish breakout as investors target the key resistance at $1.70, which is about 35% above the current level.