Basic Attention Token (BAT) to USD is a major trading pair. Not only is REP an important emerging cryptocurrency, the US dollar is the most traded fiat currency in the world.
The BAT/USD price can move up or down in a trend direction, but it can also move sideways if there is a lack of trading volume. The BAT/USD exchange rate experiences occasional price swings along with breakouts or breakdowns.
The BAT to USD pair may fluctuate by as much as 6% within a 24-hour period. Over a 30-day period traders can expect a volatility of up to 50% for the BAT to dollar trading pair.
Basic Attention Token overview
Launched in 2017, BAT was developed to solve the privacy issues around modern day digital advertising, as well as to improve the ability for advertisers to gage the effectiveness of their ads.
BAT is built on the Ethereum blockchain. It is primarily a utility token used by digital marketers to pay for ads on the Brave browser. Brave blocks ads and tracking. Users can opt into seeing adverts, and they get paid in BAT for doing so.
During its launch BAT released maximum supply of tokens of 1.5 billion. 1bn of these tokens were sold during its ICO, where it raised $35 million.
Facts about Basic Attention Token
- BAT is currently valued at $1.94bn
- BAT tokens have been built based on the ERC-20 standard on Ethereum
The BAT/USD price skyrocketed over the past year. From lows of $0.12 in March 2020 to $1.53 in April 2021. It has since slightly dipped to $1 as of early November 2021.
Which factors affect Basic Attention Coin value?
The factors affecting BAT value can be divided into two groups- BAT-specific factors and factors affecting the cryptocurrency market as a whole.
- Future developments, upgrades and technological improvements.
- Competition from other decentralized platforms including Experts.com, Yieldbot and Foundation Labs.
- BAT-related sentiment
General factors related to the crypto world:
- Changes in regulatory laws regarding the legality and usage of cryptocurrencies
- Speculative trading
In the BAT to dollar pair, BAT is the base currency, and the USD is the counter currency. This means the chart shows how much BAT is worth as measured against the USD.
The US dollar is the world’s most influential currency. It makes up 59% of all central bank foreign reserves. The greenback also dominates the forex market. It is involved in 85% of all forex transactions.
The strength of the US dollar has been directly affected by the monetary policy adopted by the US Federal Reserve after the 2007 financial crash. Fears around inflation have caused concern among investors regarding future devaluation of the dollar. The hit to the US economy as a result of the pandemic has also weakened the greenback.
If you are interested in BAT/USD pair trading, you should keep a close watch of crypto market news as well as updates from the Fed regarding monetary policy changes.
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