The Ethereum-based Basic Attention Token (BAT) has crashed after being listed in the popular Coinbase platform. During the last month, the virtual currency grew more than 175%. Its price moved from $0.13 dollars in October to $0.36 dollars in November. Nevertheless, BAT is currently being traded close to $0.27 dollars.
BAT Token Losses Over 24% of its Value In a Few Hours
Basic Attention Token was not able to sustain for a long period of time the growth it experienced during the month of October. This virtual currency was selected as one of the new Coinbase listings.
Coinbase, the popular and recognized virtual currency platform, took the decision to start trading new virtual currencies. BAT was one of these assets. The community and investors started to be very excited about it and entered the market purchasing large sums of BAT tokens.
The price started to grow and reached the highest price it had since May 2018. Back at the beginning of the year, each BAT token was traded around $0.93 dollars.
BAT is the native digital asset of the Brave digital advertising ecosystem. Basic Attention Token runs on Ethereum as an ERC-20 token and has a market capitalization of $278 million dollars, being the 30th largest crypto in the market.
The price surge experienced by this digital asset seems to be entirely related to the token’s listing on the Coinbase platform. Although it took several steps before being fully integrated into Coinbase, it was finally added to Coinbase.com.
Being listed on Coinbase.com is a very important thing for an asset such as BAT. Coinbase is known for offering a very user-friendly platform for beginners and newcomers. Some crypto users make their first purchase on the platform through Coinbase.com rather than Coinbase Pro or another trading platform.
BAT was not the only virtual currency added by Coinbase in the last few months. Some time ago, Coinbase added support to 0x (ZRX). Other virtual currencies and blockchain networks that could be added to the platform are Cardano (ADA), ZCash (ZEC) and Stellar Lumens (XLM).
Most of these assets have experienced a price surge in the last months. Coinbase announced that it was going to be exploring solutions related to these virtual assets. At the moment, Coinbase is listing Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (ETH), Ethereum Classic (ETC) and the new listings ZRX and BAT.
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Image Provided by the Coinbase Blog
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