Coinbase’s listing of BAT token yesterday has prompted an overnight rise of 16% in its total market valuation to just under $304 million dollars, and sees the cryptocurrency jump into the top 30 cryptos by market cap, having climbed seven places.
The news from Coinbase, published as a tweet yesterday afternoon, comes on the back of an earlier announcement made on Twitter – dating from July 13 – in which the US’ leading cryptocurrency exchange had announced its “exploration” of BAT as a base currency for trading pairs on its platform.
Yesterday’s news, however, indicates that BAT has been granted a listing only – and there is as yet no further news on its future integration as a platform base currency. However, yesterday’s development is read by most analysts as a positive move in that direction.
Overall, the development presents further, increased visibility for the BAT token project which has been designed to function as the Brave Browser’s native cryptocurrency and as such the world’s first browser crypto, in its larger objective to offer online publishers a new revenue stream in place of traditional advertising.
Stellar and Cardano Waiting for Listing
Stellar, whose own price has risen overnight by 5% may have been a direct beneficiary today of the BAT listing news, as it also appears on the original list of five tokens mentioned by the July 13 tweet. However, the other tokens on that list – Zcash, Cardano and 0x – appear not to have enjoyed the same effect.
Whilst there has been no further news on the integration of new base trading currencies since the July tweet, Coinbase did announce in late September – via its medium blog – that it was revising its listing process to allow for free listings for any digital asset that met with its specific compliancy requirements.