The Basic Attention Token price is recovering quicker than most cryptocurrencies. The BAT price is trading at $1.2420, which is about 42% above the lowest level during the weekend. Still, the price is about 40% below its all-time high while its market cap has moved to more than $1.8 billion.
Basic Attention Token is the native coin for Brave’s ecosystem. For starters, Brave is a relatively popular privacy-focused browser that is provided in desktop and mobile devices. The main difference between Brave and other browsers is that it comes with an ad-blocker.
Users can opt to receive adverts from Brave. In the past few years, the company has gain advertisers like Crypto.com, PayPal, and Avalanche. Users who receive these ads are compensated by the company using the BAT token. In my experience, these payments are relatively small. I have consistently used Brave and have gained just 6.25 BAT tokens.
Brave has also expanded its solutions. It has introduced a search engine that will compete with Google and Bing. It has also launched a crypto wallet and a video and audio communication tool.
BAT price prediction
The daily chart shows that the BAT price crashed hard during the weekend. It fell by as much as 57% on Saturday as the crypto sell-off intensified. In the past two days, however, the coin’s price has recovered at a quicker pace than other coins.
It remains slightly above the 25-day and 50-day moving averages while the price has formed what looks like a cup and handle pattern. Therefore, there is a likelihood that the coin will bounce back later this week as bulls target the next key resistance at $1.70. This view will be invalidated if the price falls below the weekend low at 0.86.
