Basic Attention Token (BAT) Listed On Coinbase Pro

The top U.S crypto exchange and wallet provider Coinbase announced in its latest blog post that its Coinbase Pro product now supports Basic Attention Token (BAT).

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The top U.S crypto exchange and wallet provider Coinbase announced in its latest blog post that its Coinbase Pro product now supports Basic Attention Token (BAT).

Per the blog post, the platform began accepting BAT deposits on Friday, November 2, noting that trading would commence once there is “sufficient liquidity” or a market formulates.

After adding support for the token, Coinbase noted that it would enable trading on the BAT/USDC order book. Users have been asked to transfer their own BAT to the platform since neither Coinbase.com nor its iOS, and Android apps currently support purchases for the tokens.

At the same time, the exchange wrote that “BAT trading will be accessible for users in most jurisdictions.” However, this will initially exclude the “residents of the state of New York,” most likely due to the need to first ensure that there’s regulatory compliance.

Following Coinbase’s announcement, BAT prices went up by nearly 20 percent, surging from around 26 cents to reach a high of $0.315 against the U.S dollar.

According to XBT.net, the coin’s 24-hour trading volume rose to hit over $65 million on November 3 while its market capitalization went up to about $315 million.

The initial spike has somewhat tempered, and currently, BAT is exchanging hands just above $0.30 to the dollar while its market cap stands at $304 million.

The token hit an all-time high of $0.98 on Jan. 9. Support for the BAT token on Coinbase Pro could serve to increase the altcoin’s exposure to the market and potentially catalyze further price gains that could see it hit a new all-time high.

Brave browser and BAT

BAT is an ERC-20 token that integrates the Brave browser, a blockchain-based web browser that focuses on improved user privacy.

The token gains its real-world value from the market and users of the Brave browser get BAT as a reward when they enable ads that are by default disabled on the Brave browser.

In mid-October, Brave announced an update to its Brave browser, moving its internet search engine from the Electron codebase to Chromium codebase, making it faster. It also added several features that enhanced its privacy features to prevent tracking and malvertising.

The BAT token surged on this news even as Brave introduced a beta version of its Brave Rewards program, allowing users to award their favorite content creators through microtransactions.

Basic Attention Token was among several Ethereum-based tokens Coinbase said it was exploring for listing on its trading platform.

The company, now valued at $8 billion, launched support for 0x (ZRX) in October, raising speculation that BAT could be the next token. Recently, Coinbase added support for USD Coin (USDC), its first listing of a USD-backed stablecoin.

Now that BAT/USDC trading is available on Coinbase Pro, it is possible we could see a spike in interest for the Brave web browser. The token’s native utility can continue to grow, further increasing its demand.

What do you think will be the next coin or token on Coinbase?


This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your own research and/or consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.

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