Basic Attention Token (BAT) is one of the long-standing cryptocurrencies in the space. It has a kind of "stable-coinish" price movement... well, it did up until February 4th.
On Feb 4, BAT started to show signs of life. The rest of the crypto market was already in the bull cycle with coins like CRV going 3x in a matter of days.
BAT, however, showed almost no upward movement. Slight upticks here and there.
Is BAT a Good Investment?
It's an interesting question and one that the Leo Roundtable folks addressed in a podcast episode over 6 month ago.
BAT has a lot of utilility within the Brave browser ecosystem. In fact, it is probably one of the closest forms to actual currency in the entire cryptocurrency industry.
It is used to send millions of tips and rewards to creators and users while advertisers either purchase it or send other forms of payment to Brave and Brave repurchases BAT on the backend.
With all of this utility, you might expect to see a lot of bullish action on the token.
Yes and no. Perhaps the purpose of such a utility token is to be stable in its value. Almost akin to a stablecoin that slowly rises in value over time rather than depreciates alongside USD.
Kucoin Listing
Kucoin listed BAT on Feb 6th... is it a coincidence that BAT 2x'd in a matter of days around this listing time? I don't think so.
I hear Brave is very popular amongst the asian markets (privacy, VPN, etc.).
Is this upward explosion short-lived or has BAT just reached the perfect demographic to send it to the moon?