Can The Integration of BAT Into BSC, Lead to A New ATH Rally?
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Brave, a privacy browser combined with its blockchain-based digital advertising, is reforming the Web for publishers, consumers, and advertisers. Their redesigned tech offers a faster and private web for consumers through which publisher can increase their revenues and eventually lead to better conversions for advertisers.
The numbers presented by Brave are indeed astonishing. Presently, the monthly active users stand at 25 million and 9 million on a daily basis. Shedding light on the usage of BAT, 3.8 million users transact BAT monthly with over 13 million BAT reward wallets thus far.
Brave (BAT) Joins the BSC Ecosystem to Accelerate DeFi Adoption
Basic Attention Token (BAT) has lately been exploring different blockchains in regard to its Themis initiative and is now integrated on Binance Smart Chain (BSC), available as wrapped BAT. This native token to Brave that tips users with BAT for using their platform can also be used to efficiently connect several bridges between Ethereum and Binance Smart Chain to get their hands on the Decentralized Finance (DeFi) ecosystem on BSC.
The privacy browser wallet of Brave supports the integration through a minor configuration change in the wallet. However, the firm has planned to preconfigure the Binance Smart Chain’s integration later this year – easing its usage as users need not download additional apps, configure wallets, update settings, etc., to allow access to BSC. As far as prospects are concerned, Brave also plans on exploring the Smart Chain to enable P2P tipping within its browser. Furthermore, BAT holders get admission to participate in existing BSC-based projects such as PancakeSwap and BakerySwap [Trading], Beefy Finance [yield optimization], Venus, OpenOcean, DODO, and Autofarm.
Binance Smart Chain – The New Leader?
BSC ecosystem is growing significantly despite a gradual kickstart. In fact, over the last couple of months, BSC was processing twice the volume of transactions compared to the Ethereum network, primarily due to the all-time high gas fees on the Ethereum blockchain.
BAT Price Hits Lifetime High Amid Grayscale Trust Listing
BAT has soared to register an all-time high of $1.39 on March 18. This comes after they announced a new Fund Trust that includes BAT and four other tokens. The impact was indeed bullish on its price as it managed to breach through the $1 mark. However, ever since that, BAT is struggling to push any further.
BAT Price Action – Are We Nearing the End of the Retracement?
BAT has been in an uptrend since the beginning of 2021. With few strong pushes from the bulls, the price has reached levels around the lifetime highs. Comparing the recent push with the previous one, the buyers of BAT have gotten stronger. But there are a couple of other considerations to make a note of –
1. Despite the recent push being longer (stronger) than the previous push, the buyers failed to successfully maintain grounds above the ATH
2. The long wicks on the top of the candles indicate that the buyers are under pressure between price levels $1.3 and $1.4.
Nonetheless, the high volume coming in on the latest push does imply that the buyers are real. Also, the bearish candles dropping seem to be weaker than the bull’s push up. Therefore, there is a high possibility of another set of buyers showing up in the market.
The retracement post buyer’s big move is hitting down quite intensely. Looking closely, the buyer’s push came in two steps – forming another support on the 4-hour timeframe.
During the pullback phase, the minor Support formed at $1.2 was smoothly taken down by the sellers. Reaching the Support (4H), the struggle of the buyers is evident visually. In fact, the sellers took over yet again from the Support turned resistance level $1.2.
Looking at the current price action, the bears attempting to break below the Support (4H) seems possible, given the momentum of the sellers. With Bitcoin and Ethereum facing trouble to head higher, this could be another possible reason for the sellers to maintain grounds.
Scenario 1 – If the following candlesticks turn to be green, it will imply that the buyers at the 4H Support are back in the market. And if the sellers fail to perform at $1.2, leaving a higher low, new highs can be expected.
Scenario 2 – If the buyers do not show up at current levels, the sellers could take over the market, resulting in another round of temporary downtrend. However, it is highly likely for the buyer to step in around the Daily Support levels. Hence, some healthy reactions at these levels could take the market to new highs with great power.
With the integration of BAT and BSC, Brave is offering a win-win situation for everyone who has a stake in their business. The historical price action can be seen as an effect on their development. Hence, with these factors taken into account, it is highly possible for BAT to touch new highs in the near term. You can now purchase BAT tokens at the best possible price by comparing its current value on multiple exchanges. Cheers!
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