On Friday, November 2, following an announcement from Coinbase, BAT (Basic Attention Token) is available on the Coinbase Pro trading platform. The first trading book to open will be the BAT/USDC trading pair. At the moment this is not available only for residents of the state of New York.
The four stages
Coinbase carefully describes that this BAT implementation will go through four different stages. The first stage is only for depositing BAT. Users will not be able to trade it.
The second stage means that users will be able to put limit-orders, but no matches or completed orders are going to occur. “Order books will be in post-only mode for a minimum of one minute,” says in their announcement blog post.
In the third stage, the limit orders will start matching, but users will not be able to submit real market orders. This limit-only mode will be for a minimum of ten minutes.
So in the final fourth stage, full trading, limit, market, and stop orders will be active.
BAT to conquer Coinbase
Coinbase notes that at the moment BAT is not available at Coinbase.com or on their iOS and Android apps. They are going to announce it later.
Previously Coinbase added the ZRX (0x) token, but that implementation went the other way around. They implemented it on all of their platforms – Coinbase.com, iOS, and Andriod apps first. Only after that, they enabled it for open trading.
I believe the answer to this is that Coinbase considers BAT a small market. They’re doing the four-stage implementation to check if this addition can establish sufficient liquidity, only then they will fully activate the BAT/USDC trading pairs.
Basic Attention Token
Basic Attention Token radically improves the efficiency of digital advertising by creating a new token that can be exchanged between publishers, advertisers, and users.
BAT just recently released their new version (0.55) of the Brave desktop browser. The latest version of the browser is based on Chromium. The new version is 22% faster than the previous, and with that, it is the fastest browser they have ever made.
It looks like these past weeks have been very successful for BAT, and they are here to stay. They have been continuously upgrading their Brave browser and expanding their markets. Today BATs largest market by volume is on Binance (BAT/BTC) with $42 million volume in the last 24 hours. They are working on delivering the Brave version 1.0, which will feature an extensions store, private tabs instead of windows, tab previews and more UI customizations.
It is interesting to see an instant price change following news like this. The BAT price was doing fine, with no significant fluctuations, and then on November 2, 10 PM, the price just spiked from $0.26 to $0.31 in only about five minutes. At the moment it has leveled out at $0.29. This Coinbase addition is good for BATs adoption since Coinbase is the leader cryptocurrency wallet app for mobile users. Now it will become even more comfortable for them to purchase BAT.
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