BAT is the native currency of Brave browser; it is an acronym for Basic Attention Token. This token is currently the center of attention in the crypto community due to its new ATH of $1.20. This number is significant because it marks a 32% growth spurt of BAT in 24 hours. This new all-time high makes up for a market cap of $1.5 billion. The current daily trading average of BAT is $2.1 billion, which is very encouraging.
How Does BAT Compliment the Brave Ecosystem?
BAT is directly connected to the Brave browser. Brave browser is powered by a chromium engine called Blink. The outstanding feature of this browser is that it ensures the privacy and security of its users. Blocking ads and website trackers is the default feature of Brave browser. Ad tracking is a big concern for many internet users. Hence, Brave has been able to secure 25.4 million active users thus far.
One million verified users of Brave have registered for BAT. Since Brave browser is blocking targeted ads and trackers, the advertisers that depend on advertisement have to suffer from loss of money. However, Brave has come up with a model to compensate these websites regularly. The mode of compensation is Brave rewards in the form of BAT. Brave browser has a built-in anonymous wallet, and users can fill it with BAT by watching Brave ads.
Important Brave Browser Projects to Follow
The recent appreciation and bull of BAT were raised after it announced the launch of a new DeFi wallet. This wallet would expand BAT utility by unifying Brave rewards and user accounts in one place. Brave also has plans to integrate its native token with search engines, virtual private networks (VPN), and e-commerce stores. BAT is not currently listed on Coinbase. However, if the plans like Sync V2 are successfully launched, it could set off a BAT on the right track.
Sync V2 would enable users to sync their digital wallets with other devices online. Brave also has plans to launch its private search engine by the name of Tailcat. In a press release, Brave company rep remarked that most search engines rely on Big Tech companies in one way or another. However, Tailcat depends on a 100% independent index. In this manner, people would be able to protect their privacy and securely browse the internet.