BRD token surges over 700%: Should it be on your watchlist?

Highlights 

  • BRD is a service company that aims to connect blockchain-enabled financial services to multiple mobile devices. 
  • Co-founded by Adam Traidman and Aaron Voisine, BRD crypto works on the Ethereum platform.
  • At the time of writing (BST 9:30 am), the token was trading at US $1.38 with a 24-hour trading volume of US $603,648,066. BRD was up by 725.87% in the last one day.

BRD is a service company that aims to connect blockchain-enabled financial services to multiple mobile devices, allowing consumers to buy and protect crypto assets in a secured manner. 

Launched in 2014, BRD already has more than 5 million customers and is often considered the fastest growing blockchain-enabled app within the crypto domain. On Thursday, 25 November, it will get further impetus following Coinbase's tweet announcing the acquisition of BRD.

Also read: Why is VVS Finance surging today?

The acquisition will help BRD and Coinbase to accelerate the Web3 adoption. The effect of the partnership was immediately visible as its volume, the utility token on Bread, zoomed by 46399%. Not just the volume, but the price saw a significant hike too by surging 725.87%. 

Coinbase acquisition 

Co-founded by Adam Traidman and Aaron Voisine, BRD crypto works on the Ethereum platform. BRD, which was formerly known as Breadwallet, has been quite active in the crypto space of late. Last year, it had added Hedera Hashgraph's HBAR coin. 

With the Coinbase acquisition, the BRD crypto aims to work towards reaching out to more users around the globe through the power of decentralisation. Traidman and Voisine have assured their users that they can enjoy the benefits of the BRD wallet app and that the funds are safe and secure despite the acquisition.

The Coinbase exchange said that they are keen to make the most of the investments in self-custody and Web3 and aims to increase its users' economic freedom. With Coinbase Wallet, users of BRD wallet will have an option to choose self custody. 

Also read: SAND token surges following Adidas tweet

Should you go for BRD token?

BRD token is ranked 485 on CoinMarketCap. At the time of writing (BST 9:30 am), the token was trading at US $1.38 with a 24-hour trading volume of US $603,648,066. BRD was up by 725.87% in the last one day. BRD crypto has a live market cap of US $117,574,949 with a circulation of 88,862,718 BRD coins. 

The recent rally has ignited several speculations in the market, with many betting on the fact that it could well reach US$2 in the coming days. However, from a five-year perspective, a few believe that going ahead, the token could be devalued, and one could see a price pullback after this brief rally.

This news certainly has created enough noise for the investors to sit up and take notice, but only time will tell if the token can live up to the expectations. 

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