A good day for an alt coin is when they preform a tiny bit better than Bitcoin. Brave browser hit 10 million monthly active users, and people are claiming that the price of its integrated Basic Attention Token (BAT) pumped because of the news.
Here’s a comparison between BAT and BTC on the 15 minute chart today:
BTC is at the top and BAT is at the bottom. I don’t know about you but I wouldn’t really jump for joy after seeing these results. Sure, BAT is a few more percentage points higher than BTC today, but it’s trading volume is $14 million dollars lower than a few days ago. In the typical altcoin fashion, volatility spikes mimic BTC almost as if they are the same asset.
With BTC volume sitting at $18 trillion and BAT volume at $46 million, it would be difficult that good BAT news could pump the BTC market. Usually, when BTC moves up, so do altcoins. Still, some Redditors on r/batproject are convinced that this move can be attributed to news about the Brave Browser.
“remember Bat token is one of the few tokens with a real use case via Brave and as such should grow as the Brave users increase,” said u/normanl29 on a post about the 4% price increase.
Surprisingly, most other comments on the post took the opportunity to point out how low the price is in the macro perspective.
“Yeah we saw what growth from 0 to 10M users did to the price…,” said u/punis1.
“thanks sold 100k,” u/coladh_samh responded.
Even Mike Dudas, who’s publication, The Block, reported on the increase of price mentioned that they haven’t found it to be worth entering the BAT system.
“Anecdotally, I’ve heard the payments are very low for publishers and users. We haven’t opted into the system, as it wouldn’t be material for us.,” Said Dudas.
Personally, I have tired using the Brave browser but on MacOS it seems to be lacking in many areas. There isn’t an easy to use PiP feature, battery life is worse than Safari, and when I turn on BAT rewards, video ads are sometimes a minute long or keep playing more ads until I refresh the page. I am the exact demographic who would love to support creators by donating BAT and wouldn’t mind running watching ads to earn money, but the browser keeps pushing me away, just like many others.