Market Analysis

BAT token keeps on surging with 56% gains from last week

BAT token keeps on surging with 56% gains from last week
Oct 23, 2018 by Rico Wise

BAT token has managed to gain 14% versus the USD yesterday, gaining the price of 0.30 USD for a brief period, followed by a slight correction to the price of 0.287 USD. The currency’s weekly revenue is now at 56%, undoubtedly becoming the best income among the best 50 digital currencies.

The surge is somewhat credited to the rework of the Brave’s desktop web-browser, which recently took place, giving the BAT token a bigger role on the network, putting it in the limelight. Additionally, the overhaul promoted the digital asset rewards initiative into beta-testing.

Another plausible theory is that the BAT currency is one of the recently announced five digital currencies, which Coinbase expressly stated to have been “exploring” the possibilities of enlisting them to its cryptoexchange and/or brokerage platform.

Thus, the token is rallying on the basis of speculations about it becoming listed on the cryptotrading network in the upcoming future. The San Francisco-based cryptoexchange has already listed one out of five digital currencies, ZRX, which substantially contributed to a major price surge of the 0x currency.

Each of the four digital currencies that remain – BAT, ADA, XLM, ZEC – have all displayed better performance than other alternative digital currencies in the cryptomarket last week. Nevertheless, not a single currency among the aforementioned has been able to gain over 8%, which is quite a big difference from BAT’s 56% increase. This might be explained by the huge differences in the market capitalization of the said digital currencies.

Subsequent to the headlong surge, BAT is ranking #31 in total market capitalization, with 281 million dollars’ worth of digital assets in circulation, while the remainder of the digital currencies is all within the top-20 with ADA and XLM – even in the top-10. Therefore, the so-called “Coinbase bounce” could have a different impact on the value of BAT in comparison to other digital assets.

Furthermore, both ZRX and BAT currencies are Ethereum-based and use the ERC20 standard, which could make the speculators believe that BAT should have less roadblocks on the way to becoming listed at Coinbase, compared to the rest of the currencies.

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