Basic Attention Token Bucks COVID Correction Trend And Hits New ATH
Although stocks and crypto suffered a major selloff on Friday, which for digital coins meant that a bad two weeks simply continued, some coins are still breaking new ground.
One of these, Basic Attention Token, was highlighted on these pages about a month ago as a possible candidate for a Silicon Valley takeover. Ever since Facebook rebranded to Meta and Metaverse coins are in the spotlight, venture capital has been flocking to the cryptosphere. With its own browser and a good business model (users can earn crypto while watching ads), BAT could attract serious investment sums.
Ever since we pointed it out, BAT has gone up by some 60% and has just hit a new all-time-high overnight, reversing the Omicron trend that has markets spooked.
Brave Browser spreads
Just as the market capitalization of the global crypto industry plummeted on Friday, seeing it falling from $2.8 trillion to roughly $2.5 trillion. Basic Attention Token, the crypto earning coin that you earn as you use the Brave browser, was going towards a new all-time-high. Traders took profits after it hit $1,88 this week and the coin is now going to test the support line of around $1,50 if popular technical analysis is to be believed.
Yash explained that the altcoin touched its ATH on 26 November, backed with high trading volumes. At press time, BAT traded at $1.54. The RSI stood at the overbought region and showed slowing signs. Further, DMI and MACD readings depicted a preference for the bulls but hinted at their decreasing strength.
In the past 24 hours, BAT even outdid this analysis and touched $1,92. It is currently up 15% for the day.
Brave explained that both companies would work together to bring wallet features for the Solana blockchain into Brave’s Web2 desktop and mobile browsers. The team declared that:
Brave will integrate the Solana blockchain into the Brave browser, providing default Solana ecosystem support to Brave’s 42 million monthly active users and 1.3 million verified Creators. Brave will soon default to Solana for cross-chain and Solana native DApps.
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