BAT token, also known as Basic Attention Token, is the cryptocurrency owned by Brave Browser, a very popular browser that provides a smooth browsing experience by enabling users to have a private browsing experience and also block disruptive ads that potentially make many users uncomfortable, especially on mobile where the sites are not optimized for mobile view, practically making them unexplorable with ads covering the whole screen.
The BAT token managed to reach a high of over $1, gaining a massive 32% increase in value in a single day. The token is currently roaming above the $1 mark and looks to have a bullish trend going on. This is the biggest value hike that the token has ever seen, beating its previous record of $0.88 back at the start of 2018. The token also ended with a market cap boost of 24% in the last week, skyrocketing to a massive $1.4 Billion in value, confidently displaying its power in the market.
According to data from Trading View, it shows that the token had a massive dip and the start of the year 2020, dropping to a low of $0.08, but then quickly started to regain its value, reaching a high of around $0.5 in Q3, closing at nearly $0.25 at the end of the year. From that, the token has seen a rise in value, showing no drops until now, signaling a bullish trend.
More Features and Products from Brave
The positive trend might be the result of Brave trying to increase the utility provided by the token. A statement from Brave has highlighted the launch of a new DeFi-based wallet by partnering with a decentralized exchange, giving users more opportunities for trading.
Adding to that, Brave browser has also issued a statement this month regarding the launch of its very own search engine called Tailcat, available on both PC and Mobile platforms. The main spotlight feature of the engine is that it will help users search privately without any website or even the browser itself trying to collect their private information such as IP address, MAC address, etc.
Brave browser currently has over 25 Million users active on a monthly basis, with nearly 10 Million active yearly. Highlighting the success of BAT, Brave also stated that more than 1 Million worldwide users have already accepted the use of BAT, practically locking the positive trend potential that the token is capable of achieving.