Coinbase Pro has a new cryptocurrency listing! Basic Attention Token (BAT) has officially launched on Coinbase Pro and was able to be transferred into Coinbase Pro accounts starting 11/2/2018. The announcement was done by Coinbase Pro on their Twitter account.
BAT listing expected – not a surpise
To many cryptocurrency enthusiasts, BAT was an easy choice for Coinbase Pro. Back in July, Coinbase announced that it was exploring adding 5 additional coins to its offerings – BAT was one of them. Speculation has been rife as to when the five coins would be added to Coinbase Pro, BAT included. Rumors intensified when 0x (ZRX) was listed on Coinbase for trading back in October. ZRX was listed as one of the 5 additional coins that Coinbase was considering adding to its offerings.
While Coinbase now supports trading of BAT, currently, it can only be traded on its Coinbase Pro platform, and is not yet available on its consumer-side nor its mobile apps.
According to Coinbase, there will be 4 stages of the Basic Attention Token launch.
- Transfer only stage. Starting 11/2/2018, traders had 12 hours to transfer their BAT tokens to their Coinbase Pro account before trading went live.
- Limit Orders through post-only mode went live, with a maximum of 1 minute per order. This was done to increase the market health during launch.
- The third stage allowed limit orders placed to be executed but customers could not yet place market orders. This third stage lasted 10 minutes.
- Full trading on Coinbase Pro platform, including limit, market, and stop orders.
As of yesterday, November 6th, all Basic Attention Token (BAT) trading functions on Coinbase Pro became active.
Due to the Coinbase announcement, BAT saw a price increase of more than 20% in the same day, from $0.257 up to $0.315. Days after the listing on Coinbase Pro, the price of BAT continues to go up, and is sitting at $0.332983 as of writing this post. BAT also saw its total marketshare climb to a recent high of $327 million, nearly $70 million in gains before the listing of BAT on Coinbase.
What is BAT?
An ERC-20 token built on the Ethereum blockchain, BAT’s purpose is to address the broken digital advertising system. The project behind BAT believes that currently, internet users must sacrifice their data and privacy for free use of the internet.
BAT wants to change that. BAT seeks to create a decentralized and transparent digital ad exchange based on the Ethereum blockchain. If the project is successful, BAT will be used to transfer value between publishers, advertisers, and general internet users.
Internet users will be awarded with Basic Attention Tokens for giving their attention to advertisements. Users can then use their BAT to pay for content or tip them.
Currently, BAT is integrated into the privacy focused Brave browser, where its use case is being put to the test in the real world. Brave browser is just one of the 36 working products in the top 100 cryptocurrencies. In September, Brave announced that it has over 4 million monthly active users
What do you think? We covered BAT in one of our podcasts, and we’re big proponents of the Brave browser. Click here to download the Brave browser and get $5.00 in free BAT! Let us know what you think on our Facebook page!
