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August 9, 2022
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BAT: the price of the token doubled in a month

Until mid-March 2021, the price of the BAT token was around $ 0.75. It is now close to $ 1.50.

BAT, which is an ERC-20 token on the Ethereum blockchain, has existed in the crypto market since mid-2017, when it was launched at a price of about $ 0.22.

During the big speculative bubble of late 2017, it hit $ 1, but in the following months it went back to $ 0.20.

At the end of 2018, it fell again, which dropped to $ 0.10 in February 2019. From that point on, it started to fluctuate quite steadily between $ 0.15 and $ 0.40, with just two peaks, one above $ 0.40 in mid-2019, and a $ 0.15 low during the global financial market crash in mid-March 2020.

As of October 2020, the price was still below $ 0.20, meaning that, excluding some peaks, the BAT token price has remained quite stable over the years, although it is in fact a cryptocurrency.

In fact, not even at the end of 2020 was it able to break the $ 0.20 mark, but everything changed from February 2021.

In January this year, the cryptocurrency had already tried to rise, but stopped at $ 0.32, a figure much lower than that reached in mid-2019, for example.

On February 6, 2021, he began a large-scale climb, which led him to multiply by five in just over two months.

By mid-February, it had risen to more than $ 0.60, that is, it doubled in just over a week, but dropped to less than $ 0.50 at the end of the month.

A new boom started in March, when it went from $ 0.51 to $ 0.77 in just four days. This boom was followed by another peak that brought the price to $ 1.23 in just two days, an increase of 141% in about ten days.

Basic Attention Token Review

The most recent peak started on March 27 and ended on April 9, 2021 with a new historic high of $ 1.63, a gain of 425% since February 5.

This rapid and powerful increase in the price of BAT is likely to be linked to the launch of the Grayscale Basic Attention Token Trust, which is Grayscale’s investment fund that allows investors to invest in BAT by buying shares, not tokens.

This fund was launched in late February, but rumors about its launch have been circulating since the beginning of February.

To date, the fund has issued around 320,600 shares, with around 10 BAT per share and a total AUM of $ 3.6 million, which is infinitesimal compared to, for example, the same bitcoin-related fund.

In addition, BAT is now worth more than $ 2 billion, with a turnover in the last 24 hours of more than $ 550 million. As a result, the gray scale background related to BAT is expected to have very little direct impact on the token market, but clearly, the mere news of its launch has managed to make a difference.

Source: cryptonomist

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