BTC Wires

Ethereum Token BAT Posts Major Single Day Rally

The cryptocurrency market was going through a minor bearish patch, on Friday, when most large-cap assets including bitcoin, dropped by two or three per cent of their previous day valuations. However, Basic Attention Token or BAT, an ethereum token, manages to survive this decline and post a major single day rally.  BAT is the native currency of Brave, which is an ICO funded web browser, that uses cryptocurrency to overcome the web’s traditional advertising model.

While on most of Thursday, BAT had traded at 0.215 USD, it underwent a sudden massive rise before 9:30 UTC, when the price leapt from 0.215USD to 0.235 USD, which is it’s the highest point, since August.

Even after peaking at that mark, BAT’s market has entered a steep pullback, so much so that it is uncertain what percentage of its gains will it be able to sustain over the weekend. On Binance, BAT was trading at 0.235 USD, where its global price has risen by 14 per cent over the last 24 hours. This rally has been the best performing asset of the top 100 largest cryptocurrencies.Though not in the big leagues as Chrome or Safari, Brave’s market as a browser space is steadily on the rise, and the company hopes to hit 5 million monthly users by the end of 2018. Popular science has called this browser one of the top alternatives for to Chrome or Safari. BAT occupies a significant role in when it comes to the uses and features of the browser, and while the browser’s growing user base is also a positive event, the token should even at the same time earn the distinction of being the first “utility tokens”, to have demonstrable utility.