Why is Basic Attention Token (BAT) turning heads today?

Highlights

• The multi blockchain-powered Basic Attention Token (BAT) crypto is primarily aimed at creating a platform for unbiased digital advertising for creators and consumers. 
• Founded by Brendan Eich and Brian Bondy, one feature that sets the token apart is its ability to reward users yet to join the network. 
• The 64-ranked token was seen trading at US$0.432679 with a 24-hour trading volume of US$19,18,80,231, according to CoinMarketCap.

The multi blockchain-powered Basic Attention Token (BAT) crypto is primarily aimed at creating a platform for unbiased digital advertising for creators and consumers. Running on its custom-based browser Brave, BAT protocol can be utilised as a medium of exchange between advertisers and other internet users based on their web activity. 

Founded by Brendan Eich and Brian Bondy, one feature that sets the token apart is its ability to reward users yet to join the network. 

While the overall crypto market may have been gripped by the bearish sentiments, the BAT crypto, over the past month, has been witnessing a rally. Over the past 30 days, the Basic Attention Token has gained over 12.1%; in the past week, it has gained over 15.5%, according to CoinGecko. 

Even on 6 July, the BAT crypto witnessed a rally of 0.97% and a volume spike of 162.38% at 7:30 AM (GMT +1), according to CoinMarketCap. 

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Reason for rally 

BAT crypto's rally largely seems to be on the back of the news of the BAT Community extending the submission deadline for the BAT Meme Contest for Brave's upcoming Solana BAT NFT airdrop on the MagicEden platform. 

The BAT meme contest, which opened on 16 July, suggested that the community will be choosing the top 30 entries to feature on the Brave protocol. 

In fact, before this, the BAT crypto had indicted a bullish momentum ever since the news of the NEAR Foundation partnering with the Brave came out on 10 June. The partnership was expected to integrate Aurora, an Ethereum Virtual Machine (EVM) on the NEAR protocol, into Brave Wallet. 

This generated massive interest within the protocol, thereby taking the RSI to 57.53 during the intra-day trading session on Wednesday. 

Image Credit: Trading View

The RSI moment did indicate an upward trend, with investors showcasing huge interest in the token with the latest developments. 

Even the MACD line seems to be shooting upwards and has crossed the signal line, showcasing intent that it may move up further if the rally continues. 

Why choose BAT crypto? 

The 64-ranked BAT token was trading at US$0.432679 with a 24-hour trading volume of US$19,18,80,231. The rallies have ensured that the BAT token is now up by over 493% from its all-time low mark of US$0.072394, which it achieved five years back. 

That said, it's still far from its ATH score of US$1.90, which it achieved in November. The BAT crypto enjoyed its live market cap of US$ $64,80,19,896 with 1,49,76,91,558 BAT coins in circulation. 

With the crypto market unable to shake off the bearish sentiments, BAT's rally will be a relief for its investors. Having said that, the dynamics of the crypto market can change quickly, and one must prepare for it by doing proper research before making investment decisions. 

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