The Basic Attention Token has enjoyed something of a recovery lately, as the news that it was to launch its own browsing assistant helped it catch people’s interest. A pretty long-standing crypto, it has struggled in 2023, but the launch of Leo could help it gain some much-needed traction.
Basic Attention Token did not immediately respond to a request for comment.
But what is Basic Attention Token (BAT)? How does Basic Attention Token work? Let’s see what we can find out, and also take a look at some of the Basic Attention Token Price Predictions that were being made as of October 5 2023.
Let’s examine some of the Basic Attention Token price predictions being made on October 5 2023. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.
First, CoinCodex had a short-term Basic Attention Token price prediction that said BAT could reach $0.175 by October 9 and $0.1935 by November 3. The site’s technical analysis was, surprisingly, extremely bearish, with 28 indicators sending discouraging signals and just two making bullish ones.
DigitalCoinPrice said BAT would reach $0.36 this year. CaptainAltCoin said it would drop to $0.1213 by December. PricePrediction.net ’s Basic Attention Token price forecast said it would trade at $0.24 this year.
DigitalCoinPrice thought the Basic Attention Token would climb to $0.57 by 2025. CaptainAltCoin said it would be worth $1.58 that year. PricePrediction.net said BAT would reach $0.50 in two years time.
Looking at a more long-term Basic Attention Token price prediction, DigitalCoinPrice said that the crypto would reach $1.76 by 2030. Bitnation said it would be worth $1.47. PricePrediction.net’s BAT price prediction had it stand at $3.32 at the start of the next decade.
Now, let’s examine some of the highlights and lowlights of the Basic Attention Token price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a Basic Attention Token price prediction.
The Basic Attention Token was launched on May 31 2017, after an initial coin offering (ICO) saw it raise $35m in less than 30 seconds. It was initially worth about $0.30, but a bubble saw it reach $0.8482 on January 8 2018.
The bubble burst and BAT fell to below $0.40. Things picked up again in early 2021, when the market flourished and the Basic Attention Token reached a periodic high of $1.65 on April 9. There was a downturn over the summer, but a resurgence later in the year saw it reach an all-time high of $1.92 on November 28. The token then closed the year at $1.20.
2022 saw both BAT and crypto as a whole enter a decline. The token dropped below $1 in January and the collapse of the Terra (LUNA) blockchain in May saw it fall under $0.50. It struggled further when the FTX (FTT) blockchain declared bankruptcy in November and it closed 2022 at $0.1661. This meant BAT lost more than 85% of its value across the year.
BAT shot up in 2023, only to fall back to not that far from where it started. It rallied at the start of the year, trading at above $0.30 in the middle of February. BAT then entered a decline which culminated in a low of $0.1558 on June 10. This coincided with the news that Crypto.com (CRO) was to halt its US institutional activities in the wake of the United States Securities and Exchange Commission (SEC) suing the Binance and Coinbase exchanges.
The token then made a recovery, reaching more than $0.20 in late June and early August. Another market downturn saw it fall to $0.1578 on September 11. Since then, there has been something of a recovery. On October 5 2023, it was worth about $0.1735.
At that time, there were 1.489 billion BAT in circulation out of a total supply of 1.5 billion. This gave the Basic Attention Token a market cap of about $285 million, making it the 103rd-largest crypto by that metric.
BAT has risen by nearly 10% from its September low and is up around 11% from June 10. However, the Basic Attention Token is still worth almost 25% less than the $0.2273 it reached on August 11. It is, though, up by about 4.5% since the start of the year.
It is hard to say. The token has been around for a long time, but is yet to make it into crypto’s highest echelons. It has also performed pretty underwhelmingly so far this year. On the other hand, though, it is still active and it will be interesting to see what impact Leo will have.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in BAT.
No one can really tell right now. While the Basic Attention Token crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Before you decide whether or not to invest in Basic Attention Token, you will have to do your own research, not only on BAT, but on other coins and tokens such as The Graph (GRT) and Uniswap (UNI). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
BAT is based on the Ethereum (ETH) blockchain.
Advertisers buy advertising space and user attention with BAT, while content creators and publishers pay for user contributions and advertising revenue with the token BAT. Meanwhile, Brave’s users get BAT for paying attention to adverts.
Basically, if someone chooses to watch an advert on Brave, they get paid BAT. A system called Brave payments automatically calculates how much people get at the end of each month based on time spent viewing content. Users can also make specific contribution regardless of time spent viewing content, much like a site like Patreon does.
BAT can also be bought, sold, and traded on exchanges.
Because BAT is based on Ethereum, it is a token, not a coin. You might see references to such things as a Basic Attention Token coin price predictions. Not only are these unwieldy, they are also wrong.
At that time, there were 1.489 billion BAT in circulation out of a total supply of 1.5 billion.
Most BAT price predictions say the Basic Attention Token can reach $1. However, there is no precise consensus as to when that might happen. The dates range from CaptainAltCoin saying it can break the dollar by 2025 to DigitalCoinPrice’s claim it can get there in 2029.
Remember that BAT has not been worth $1 since January 2022.
The BAT token pays for people to watch adverts on the Brave browser. People can also buy, sell, and trade the Basic Attention Token on exchanges.
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Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.