Basic Attention Token could test $1 in the short term
Besides bullish momentum in the broader market, BAT fundamentals are strong.
Basic Attention Token is in a breakout, and buying Volumes are rising.
BAT is one of the fundamentally strongest cryptocurrencies in the market, a factor that favors its odds of sustaining the current rally.
BAT powers the brave browser, and with privacy taking center stage on the internet, Brave Browser adoption is growing.
Basic Attention Token (BAT) is one of the cryptos with an actual use case. It is among the few that even a layman can understand what it means and how it works by a quick glance at it. This is a big deal because it means that with crypto adoption on a growth trajectory, such cryptos stand to draw in the most volumes once the markets turn bullish again.
The Basic Attention Token is the token that runs the Brave Browser ecosystem. Brave is a privacy-focused browser that uses its high search speeds as a selling point. Unlike other browsers that make money by selling user data, advertisers pay users for their attention when using Brave. Anyone who takes time to view adverts on the Brave Browser gets paid in BAT tokens.
Essentially, the more people use Brave, the more BAT tokens are used, which is a plus in demand and long-term value growth. The best part is that Brave Browser adoption is on a growth trajectory. So far, more than 4 million people use Brave, and the numbers are growing. This has a lot to do with its privacy features. Privacy is increasingly becoming a big deal to many people, meaning BAT has a lot of room for growth, especially if the markets turn bullish again.
Basic Attention Token breaks out after weeks of consolidation.
Source: TradingView
For the last couple of weeks, BAT has consolidated between $0.635 and $0.755. However, in the past 24-hours, BAT has broken out of this range and with high volumes. If the market sustains the current upside momentum, BAT could easily break the $1 mark in the short term.
Summary
BAT is in a breakout, a move that was triggered a bullish breakout in the broader market. However, while the current price move is mainly speculative, BAT has the fundamentals to sustain a rally and make new highs in the long run.
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