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Basic Attention Token Best Performer in Top 100 After Technical Breakout, New Wallet


Source: AdobeStock / Stanislav

The advertisement-focused basic attention token (BAT) soared higher in price today after a major technical break-out on the chart sparked a buying frenzy among traders.

The token, which among other things is used to reward users in the privacy-centric internet browser Brave, rose by 21.7% over the past 24 hours, trading at a price of USD 1.59 at 10:20 UTC on Friday.

The gains today positioned BAT as the day’s best-performing token among the top 100 cryptoassets by market capitalization by a relatively wide margin.

The token, ranked as the 76th most valuable cryptoasset per CoinGecko, has also risen by 62.8% over the past 7 days, and 123.1% over the past month.

Source: CoinGecko

The recent gains come after the Brave browser on November 16 announced the Brave Wallet, a crypto wallet integrated into the browser with no need for browser extensions installed.

The wallet reportedly works with all Ethereum Virtual Machine (EVM) compatible chains, including Polygon (MATIC), xDai, Avalanche (AVAX), and others, as well as Layer-2 networks built on top of Ethereum (ETH).

The current price gains are also notable from a technical analysis perspective, with today’s rise marking a major breakout above the token’s all-time high of USD 1.6498 from April this year.

Moreover, today is also the first time since October 30 that BAT has traded above the USD 1.4 level, after a failed attempt at staying above that level back then. 

BAT has seen gains even as the rest of the crypto market has experienced selling, with for instance bitcoin (BTC) being down nearly 4% over the past 7 days.

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