Well, that didn’t last long.
After being added to exchange platform Coinbase last week, Ethereum token BAT has plummeted almost 20%.
Reports on CCN found that the overall crypto market had dipped $6 billion toward the end of the week. Basic Attention Token, which is powered by privacy-focused web browser Brave, reportedly suffered most.
BAT had been listed on the company’s order-book exchange, Coinbase Pro, before initiating a four-phase integration on Coinbase.com when it established sufficient liquidity. For a second, things seemed to be going well, with Basic Attention Token peaking on Binance at $0.39.
The success lasted all of a few hours, however, and the currency fell more than 18 percent, according to CCN.
Now, it’s worth just shy of $0.30, making the market cap around $298 million.
The token initially soared after completing its four-phase integration into the Coinbase platform, only for the hype to die down almost as quickly as it ignited.
That doesn’t mean Basic Attention Token is doomed, however. In a recent interview with podcast What Bitcoin Did, currency creator Brenden Eich nudged at a new partnership with a major content publisher.
Though Eich declined to give a specific name, he mentioned that the company has “80 million adblocking unique visitors per month,” many more that are non-adblocking, and is interested in collaborating with the BAT creator to “convert those adblocker users […] to Brave.” [Source: CryptoGlobe]
If all goes well, maybe the ad system will provide the much-needed tonic to the token’s weekend slump…