The enormous rally that was enjoyed by Bitcoin and the wider crypto market during the first half of the year resulted in the emergence of some tokens that people may not have heard of before. One of those tokens is the Basic Attention Token (BAT), which is meant for the Brave browser project.
BAT has not made any significant gains this year and remains a small-cap cryptocurrency, but it is in the news today because it is one of the few tokens that has experienced a rise. The project related to the Brave browser is an interesting one, no doubt, and today, it was announced that the browser in question is going launch its native wallet.
Interesting Development
The wallet in question is going to be known as Crypto Wallet and it going to support Ethereum, in addition to other tokens that have been derived from Ethereum. The news sent the price of BAT higher, and although it is far from its lifetime high, it is a sign that the token is possibly moving in the right direction.
However, it is very important to keep in mind that despite the fact that Basic Attention Token is trading at a much lower price, it is one of the few cryptocurrencies that has a clear use case and that is the factor that cannot be discounted.
>> Alibaba and Tencent All Set to Get First Chinese Government Cryptocurrency
At this point in time, the coin is trading higher by 6% at $0.195, and it is a critical level for BAT. It remains to be seen how the price action will behave in the coming hours before it can be classified as a definite rally. The crypto could eventually be used for making payments online through a browser, and that is something that has huge potential in the years to come. That being said, there are some Fintech startups that are also working on similar projects.
Featured image: DepositPotos © 3DSculptor
