Next Up: BAT Pumps After Coinbase Pro Listing Announcement
Coinbase Pro said on November 2nd it was listing Basic Attention Token (BAT). The first trading pair available will be with the USDC stablecoin. BAT’s price jumped nearly 20 percent on the news.
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Limited BAT Trading to Begin on November 3rd
The first associated trading pair will be Brave Attention Token to USDC, the U.S. dollar-pegged stablecoin that was just listed on Coinbase last month. Per an announcement, BAT will be available in most jurisdictions except for residents of the state of New York.
Inbound token transfers to Coinbase Pro went live at 13:00 Pacific Time on Friday.
BAT is launching on Coinbase Pro! Starting at 1pm PT today, customers can transfer BAT into their Coinbase Pro account. Traders can deposit BAT, but cannot place or fill orders. Order books will remain in transfer-only mode for at least 12 hours. https://t.co/31wbi09uyx pic.twitter.com/2YC7xtOjuI
— Coinbase Pro (@CoinbasePro) November 2, 2018
Once trading is fully functional, Coinbase Pro users will be able to convert their fiat currency to USDC tokens, which can then be traded for BAT.
Coinbase Previously Hinted BAT Listing Was on the Way
BAT is the second greenlighted token of the five projects Coinbase announced it was considering listing back in July. The first of that group of tokens, 0x (ZRX), was added late last month to Coinbase Pro and is now listed on the regular Coinbase exchange.
It seems likely that BAT will follow the same path.
The San Francisco-based exchange, which offers crypto trading services in 33 countries, has not yet indicated when — or if — the addition of other three coins mentioned in the July announcement would occur. Those were Cardano (ADA), Stellar Lumens (XLM), and Zcash (ZEC).
The listing of BAT is the fourth new cryptocurrency that Coinbase has added this year, after Ethereum Classic (ETC), ZRX, and USDC.
Brave Software Looking to Create New Web Monetization Model
BAT was launched by Brave Software, which was founded in 2015 and is attempting to create a new Ethereum-based monetization system for web advertising. The Brave web browser, which is available for desktop and mobile operating systems, is the centerpiece of this effort.
The firm has been airdropping BAT tokens since at least 2017 in an effort to increase adoption. Back in April, the firm announced a deal that gave Brave browser users access to premium content from the Dow Jones Media Group.
The latest update to the Brave browser came on October 18th for its Windows, macOS, and Linux versions.
BAT Price Pumps by Nearly 20 Percent
Not surprisingly, the price of BAT has jumped by more than 19 percent since the Coinbase announcement was made, per CoinBillboard. At press time, one BAT token was worth just over $0.30 USD.
BAT’s price, however, is still down nearly 70 percent from its all-time high of around $0.97 in early January of this year.
The other possible candidates for Coinbase listings were also up during an otherwise flat 24-hour window for crypto markets. ADA was up 2.5 percent on the day, while XLM had risen more than four percent and ZEC more than one percent in the same span.
Have your say. What do you think of Coinbase Pro listing Brave Attention Token? Good move, bad move, or are you neutral on it?
Images via Brave, Coinbase, Pixabay