The Basic Attention Token (BAT) hit an all-time high of $1.20 on March 17. The price has decreased slightly since the milestone but is still at $1.
In the past 24 hours it’s price has increased more than 32%. The previous all-time high was recorded on January 9, 2018, when the closing price for the day was $0.88.
BAT/USD Chart. Source: TradingView
Improvement of the BAT
This milestone is behind Brave’s plan to expand the token utility. Brave looking forward to a new DeFi-enabled wallet with decentralized exchange functions is being launched.
The BAT token supports the Brave services ecosystem (including the Brave browser). The use of British American Tobacco has grown significantly with private advertising browsers.
Brave Browser has an estimated 25.4 million monthly active users and nearly 10 million daily users. According to Brave, more than a million verified users have accepted BAT. Brave plans to integrate BAT with search engines, virtual private networks and e-commerce stores. Perhaps these are the reasons for the price increase.
The price increase pushes the market value of BAT upward. It is currently more than $1.4 billion.
Starting its Search Engine
Earlier this month, Brave announced that it would launch its own search engine. The search engine will be available on both mobile devices and desktop computers. This is part of the effort to create a decentralized network.
A search engine called Tailcat increases anonymity significantly. According to Brave, Tailcat doesn’t need to collect user IP addresses or personal information in order to work. The press release stated:
“Under the hood, nearly all of today’s search engines are either built by, or rely on, results from Big Tech companies. In contrast, the Tailcat search engine is built on top of a completely independent index, capable of delivering the quality people expect but without compromising their privacy”