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BAT: the price of the token doubled in a month
BAT: the price of the token doubled in a month
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BAT: the price of the token doubled in a month

By Marco Cavicchioli - 12 Apr 2021

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Up until mid-March 2021, the price of the BAT token was around $0.75. It is now close to $1.5

BAT, which is an ERC-20 token on the Ethereum blockchain, has existed on crypto markets since mid-2017 when it debuted at a price of around $0.22. 

During the great speculative bubble of late 2017 it touched $1, but then in the following months returned towards $0.2. 

At the end of 2018, it suffered a new drop, which brought it down to $0.1 in February 2019. From that point on it began to fluctuate fairly steadily between $0.15 and $0.4, with only two peaks, one above $0.4 in mid-2019, and one below $0.15 during the global financial market crash of mid-March 2020. 

As late as October 2020, the price was still below $0.2, meaning that, excluding the few peaks, the price of the BAT token had in fact remained fairly stable over the years, even though it is indeed a cryptocurrency. 

In fact, not even at the end of 2020 did it manage to break through the $0.2 mark, but that all changed as of February 2021. 

In January of this year, the cryptocurrency had already tried to move upwards but stopped at $0.32, which is much lower than the level reached in mid-2019, for example. 

On February 6th, 2021, it began a full-scale climb, which led it to multiply fivefold in little more than two months. 

Already in mid-February, it had risen above $0.6, i.e. doubling in little more than a week, but then fell back below $0.5 at the end of the month. 

A new boom began in March when it rose from $0.51 to $0.77 in just four days. This boom was followed by another spike that took the price to $1.23 in just two days, a 141% increase in about ten days. 

The new price record of the BAT token

The latest spike began on March 27th and ended on April 9th, 2021 with a new all-time high of $1.63, i.e. a 425% gain since February 5th. 

It is likely that this fast and powerful rise in the price of BAT is linked to the launch of the Grayscale Basic Attention Token Trust, which is Grayscale’s fund that allows investors to invest in BAT by buying shares, not tokens. 

This fund was launched at the end of February, but rumours of its launch had been circulating since early February. 

To date, the fund has issued about 320,600 shares, with about 10 BAT per share and a total AUM of $3.6 million, which is infinitesimal compared to, for instance, the same fund related to bitcoin. 

Moreover, BAT is now worth more than $2 billion, with a trading volume in the last 24 hours of more than $550 million. As a result, Grayscale’s fund related to BAT should have a very little direct impact on the token market, but clearly, the mere news of its launch has managed to make a difference. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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