We covered the Basic Attention Token (BAT) recently and talked about them lighting green candles and now they are truly hitting the stratosphere as the coin will be on Coinbase Pro. Against USD, BAT is seeing a quadruple surge in its intraday trading volume, rising from near $8 million to circa $36 million. In long term, however, BAT/USD is still facing a strong pullback sentiment towards the falling trendline.
According to the news, Coinbase Pro has decided to launch the BAT/USDC in four successive stages, with a full-scale trading launch being the fourth and the final stage. The first part of the launch, which took place on November 2, allowed traders to only transfer BAT holdings to their Coinbase Pro wallets.
BAT is launching on Coinbase Pro! Starting at 1pm PT today, customers can transfer BAT into their Coinbase Pro account. Traders can deposit BAT, but cannot place or fill orders. Order books will remain in transfer-only mode for at least 12 hours. https://t.co/31wbi09uyx pic.twitter.com/2YC7xtOjuI
— Coinbase Pro (@CoinbasePro) November 2, 2018
In the second part, the exchange will accept only stop-limit orders but it will not match or complete them. In the third stage, the exchange will start matching the limit orders, while in the last one, it will enable a full-scale BAT/USDC trading. The interim price action in the BAT market would have less to do with Coinbase Pro trading platform and more with the growing speculation on other exchanges.
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IF YOU ARE UNFAMILIAR WITH BAT, IT IS THE NATIVE CURRENCY OF THE VERY POPULAR BRAVE BROWSER, WHICH USES BAT TO TURN THE NORMAL INTERNET BROWSER BUSINESS MODEL ON ITS HEAD AND DOES NOT EXPOSE USERS DATA TO ADVERTISERS.
This program allows publishers and other content creators to earn cryptocurrency payments, denominated in BAT, based on the amount of time that users spend on their websites. They can then withdraw these tokens to external ethereum wallets, or convert them to their local currency through cryptocurrency brokerage service Uphold. Brave is not on the same level as Chrome and Safari, but it has been gaining momentum for those who are tired of the large technology giants selling their data and search histories.