In the cryptocurrency world, there is a constant search for the next big coin ready to surge to new heights. One cryptocurrency that investors are keeping an eye on is Basic Attention Token (BAT). Although Basic Attention Token arrived on the crypto scene in 2017 there are a few good reasons why 2022 could be the right time to consider investing in BAT.
Basic Attention Token is a very interesting case because it has a completely different setup to other cryptocurrencies. In fact, the native token BAT is not what the Basic Attention Token group is pushing at all. Instead, they are focusing on starting a new era of advertising and the BAT cryptocurrency is a bonus feature of their new system.
Even though making a cryptocurrency was not the main goal of Basic Attention Token, attaching a coin to the digital advertising industry was a strong move. Digital advertising is a roughly $330 Billion dollar industry, which means if the company achieves their aims and goes global, BAT will be adopted worldwide. This could be the biggest instance of mass cryptocurrency adoption that we have seen so far.
Like many cryptocurrencies, BAT received a huge value boost during the 2021 bull run that swept the cryptocurrency market. Also, after the outbreak of the Covid-19 pandemic, there has been a huge loss of faith in central banks, causing the decentralized finance (Defi) industry to boom. Although some feel that the crypto industry is becoming saturated with new coins, BAT stands out precisely because pushing a new cryptocurrency was not the aim.
The BAT coin is a product of the new interactive system of advertising that Basic Attention Token provides. The coin fuels the system and allows for payments and rewards. And while the market value of BAT is not the system’s focus, it is definitely capturing market-wide interest.
There is little surprise then that investors are looking to add Basic Attention Token to their cryptocurrency portfolios for 2022.
How Does Basic Attention Token Work?
The BAT coins are different to most other cryptocurrency tokens because they are utility tokens, that were designed to fulfil a role on the Basic Attention Token Advertising system. The coin is not being forced into the market, but it is definitely a crypto player regardless.
BAT coins use the Ethereum coin template, like many crypto coins. Rather than creating a system that is secondary to trying to create a new crypto coin, the functions are the priority and the coin is a bonus. Basic Attention Token designed BAT to be the currency that their system users; advertisers and customers, could use on their platform.
This makes them a new type of blockchain-based decentralised advertising company. They aim to maintain higher standards of privacy, make sure content creators are paid for all of their work and reward viewers for taking time to watch their adverts. This system doesn't just reward the content creators and the people who publish the content, but also the public who spend so much time currently watching adverts unrewarded.
With the coin having such a strong function to persuade people to start using the Basic Attention Coin system, and also BAT tokens, it is not surprising that the coin has entered the wider cryptocurrency market.
BAT is supported by the Brave browser which provides the overall platform for using the system. Since launching in conjunction with the Brave browser Basic Attention Coin has hit 10M daily users and 30M actively using BAT from one month to the next. Because advertising is such a scalable industry, investors are expecting BAT to go from strength to strength in 2022 and the future.
Check Out: How to Invest in Basic Attention Token
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BAT Coin Distribution
Back in May 2017 Basic Attention Token had its initial coin offering (ICO) and sold an incredible 1B BAT. There was a reserved pool of 200M for growing the Basic Attention Coin system which has now grown to 300M.
At that time BAT was worth around 6,400 BAT to 1ETH coin, which put the value of 1B BAT at approximately 156,250 ETH. This was a strong value for a low-cost utility coin to get started with and fuelled the BAT coin’s entry into the competitive crypto market.
Using BAT
Now that Basic Attention Coin is merging its system with the Brave browser they have gained momentum. Brave provides the blockchain ledger for the BAT transactions and hosts BAT wallets to store the coins. The browser then allows for the purchase of services and other transactions on its site all centred on advertising.
BAT coins are bases on Ethereum coins and use the basic ERC20 token which is popular across the crypto market as a starting point. This makes BAT compatible with all Ethereum wallets, which is a great accessibility aspect. This makes it easy for investors to buy and sell their BAT which is critical to all types of trading.
The Brave browser also provides high-end security to prevent unwanted advertisements, cookies or other privacy and security breaches common in current advertising.
Those who invest and also use the Brave system will collect more BAT as they navigate the Brave Browser, boosting available profits. This is another reason investors are choosing to buy BAT in 2022.
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Trading BAT To USD
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BAT had a positive journey in its early years as it was more volatile than most of its competitors in the cryptocurrency market. It was capable of peaks and active trading cycles which was a promising sign. The 2021 crypto market boom broke BAT out of a sideways trading pattern which it had fallen into in 2020. And the trading signals for BAT have been positive ever since that point.
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Although BAT demonstrates dips as well as peaks it is following a positive trajectory overall, where the sustained lower price point is rising over time. This is good for investors who are looking to add a slow growth investment to their long term portfolio. In April 2021 BAT hit an all-time high of $1.65. This was a huge leap for this inexpensive coin, and this created large percentage returns for investors who had bought early in 2021 or in previous years.
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Although the June and July crypto market-wide slump can be seen in BAT’s sustained dip during this period, the damage was not great. BAT did not drop much, compared to many coins which dropped to a distinct low that is difficult to recover from. In August and September, 2021 BAT demonstrated a robust comeback and managed a small peak as it moved back towards the $1 mark. This is very promising following the bearish shift in trading patterns across the crypto market in mid-2021. BAT looks set to continue its cycle of bullish trading in a volatile pattern, moving upwards in a positive growth trajectory.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Will BAT Rebound From The Last Correction?
BAT’s last major correction occurred straight after their all-time high of $1.65 occurred in April 2021. Although this correction and the difficult trading conditions within a bearish market have slowed recovery, BAT is definitely working its way back up.
The coin price has dipped to $0.60 at the time of writing, however, based on the trading cycles seen previously it is highly likely that BAT will recover its previous high in the first quarter of 2022. BAT returned to $0.99 at the beginning of September 2021, just shy of the $1 mark. Two months later, BAT is now trading at $1.26.
This volatile progress increases the likelihood that the next peak will take BAT close to its previous high point. Despite the low coin price, recovery is looking relatively straightforward for BAT as it moves into 2022.
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Predictions For Basic Attention Token In 2022 And The Future
The predictions for BAT long-term expect to see a steady increase in coin price over the next five years. The most conservative estimates see the coin price tripling in the next five years.
However, some market experts feel that due to the recent movements and updates BAT is likely to surpass this by 2023. These analysts then predict the growth rate will slow, arriving at the $7 mark by 2026.
Even the slower estimates are predicting steady growth, making BAT a good background investment to set up in your portfolio. For such a cheap cryptocurrency, the blanket outlook is extremely positive. Although the cycles will be volatile over the next few years, particularly in 2022 and 2023, the overall trend is moving upward.
If the expected momentum is generated by the market expansion taking place for Basic Attention Coin this is very likely to speed up. With the rapid adoption of their advertising system already beginning, this is likely to be a very good time to buy the dip and get BAT while it is still inexpensive. Buying in 2022 in the first and second quarters is predicted to lead to solid profits over the next 3-5 years.
As the momentum increases it should create a steeper upward trajectory and lead to greater profits in a shorter time frame.
Basic Attention Token Trading Forecast For 2022
Basic Attention Token has been making some big moves recently in conjunction with their 2021 success and they published an updated version of the BAT Roadmap in February that year which outlines their developments and progression going forward. These updates should support fast growth for BAT in 2022.
As part of this update, they are bringing out a native BAT wallet for use on mobile or desktop which should cause a huge surge in users of the Basic Attention Token advertising system. This increased global adoption would also boost the BAT coin price in 2022 and the next few years.
They are also pledging to ‘go beyond Ethereum’ adding more cryptocurrency compatibility to their software to engage with Bitcoin, Polygon and other leading coins. This is another avenue for increased market adoption which would support BAT value growth.
This growth has already begun, with the Brave user rate doubling over August and September 2021, which makes it very likely that the growth rates will increase throughout 2022:
‘Brave Sees Huge Growth, Surpasses 36M Monthly Active Users "Since August 2020, the browser has nearly doubled its MOU, adding 10.8 million new MOUs since January this year alone."’
@AttentionToken, Twitter account of Basic Attention Token (BAT)
This increased use of the platform that hosts BAT is likely to boost coin use and generate greater profits for BAT investors than this coin has seen so far.
In 2022 BAT is expected to return to its previous high of $1.65, from the current price of $1.25 at the time of writing. This yields good percentage returns for those investing early in 2022.
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FAQs
Who is behind Basic Attention Token?
Basic Attention token was founded in 2017 by Brendan Eich who continues to be CEO of the company. He had a huge amount of software development experience prior to this having created Mozilla, Firefox and Javascript at earlier points in his career.
Brian Bondy helped Eich to found Basic ATtention coin and is currently CTO of the system. The two have an extensive team of experts that they work with, including expert cryptocurrency market advisors.
What is Basic Attention Token?
BAT was designed to facilitate functions on the Basic Attention Token platform that offers a new avenue in advertising. The BAT coin is used to settle accounts for creators and publishers that need to be paid for their work and is used to reward those who watch the available advertisements.
It is also bought and sold as a cryptocurrency asset itself, although this is not the original purpose outlined by the company. It is based on the Ethereum ERC20 token and can be used with Ethereum compatible systems.
How does BAT compare to the market?
BAT is in the top 100 cryptocurrencies on the market currently, with a market capitalisation of $0.9B. This is a respectable position for this inexpensive coin to be at, however, it is expected to begin to move up the rankings dramatically as the adoption of the Basic Attention Coin advertising system spreads.
Should I invest in BAT in 2022?
BAT is at a relatively low point currently which makes it a very good time to invest and buy the dip. This gives optimum percentage returns as BAT grows in value. This is likely to continue to happen as BAT is subject to characteristically volatile trading cycles and is following an overall upward trend.
As BAT is linked to a successful and growing advertising system, it is also likely that increased adoption of BAT and this advertising system will push the coin price up consistently over time.
Is BAT still going to go up?
BAT is predicted to continue to climb, with each peak and correction being followed by higher base trading values. This makes BAT a good growth investment for long term buyers as well as an excellent candidate for swing trading due to the volatility.
Now that the market conditions are improving BAT is ready to climb back towards its previous highs. This should take in up by around $1 in the next six months, creating excellent percentage returns.
What will BAT prices rise to in 2022?
BAT is likely to rise to between $1.70 and $2.40 in 2022. However, this is a baseline average and there are likely to be surges scattered throughout the year bring the price much higher before the correction.
As the bullish trading seen in early 2021 resumes there may be a faster growth rate for BAT. This would then set the price likely to hit between $2.50 and $3 by the final quarter of 2022.