Tag: Bat

Binance Announces Removal of Multiple Trading Pairs Including BAT, CVX, FORTH

by Blockchain News

Key Takeaways

* Binance to delist a total of 22 spot trading pairs on September 8, 2023.

* The delisting is part of Binance’s periodic review to ensure a high-quality trading market.

* Users advised to update or cancel their Spot Trading Bots to avoid potential losses.

With the aiming at maintaining market quality and protecting users, Binance, one of the world’s leading cryptocurrency exchanges, has announced the delisting of several spot trading pairs. The announcement was made on September 6, 2023, and the changes will take effect on September 8, 2023, at various times throughout the day.

Delisting Details

According to the official announcement, the delisting will occur in three phases:

At 05:00 (UTC): AUDIO/BUSD, BAT/BUSD, BSW/BUSD, CITY/BUSD, CVX/BUSD, FORTH/BUSD, JUV/BUSD, MOB/BUSD

At 07:00 (UTC): OGN/BUSD, OMG/BUSD, PLA/BUSD, POLS/BUSD, REI/BUSD, RSR/BUSD, SCRT/BUSD, TVK/BUSD

At 09:00 (UTC): ADA/BIDR, MATIC/BIDR, UTK/BUSD, ZIL/BIDR

The delisting is attributed to “multiple factors, such as poor liquidity and trading volume,” but specific data points were not disclosed.

Impact on Spot Trading Bots

Binance will also terminate Spot Trading Bots services for the affected trading pairs at the corresponding times. Users are “strongly advised to update and/or cancel their Spot Trading Bots prior to the cessation of Spot Trading Bots services to avoid any potential losses.”

Future of BUSD on Binance

Interestingly, the announcement also encourages users to convert their BUSD assets into other available assets on Binance before February 2024. Users have the option to trade their BUSD balances for FDUSD at zero trading fees or convert their BUSD balances to FDUSD at a 1:1 ratio using the convert portal.

Implications for Traders

While the delisting of a spot trading pair does not affect the availability of the tokens on Binance Spot, it does limit the trading options for users. Traders are advised to adjust their strategies accordingly and to be aware of the upcoming changes to avoid any financial setbacks. Binance also encourages users to convert BUSD to other Stablecoins pior to February 2024.

Conclusion

The delisting is a part of Binance’s ongoing efforts to provide a secure and efficient trading environment. It serves as a reminder for traders to stay updated on exchange policies and to adapt their trading strategies as needed.

Image source: Shutterstock

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Top Altcoins with the Best Weekly Gain: BAT, GRT & APE

by Blockchain News

Despite the price fall experienced by the digital currency ecosystem in the past week, a rejuvenation was recorded for the better part of this week.

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Trailing the upshot, the global crypto market cap soared to a high of $1.837 trillion amidst a soaring upshoot in Bitcoin (BTC) and Ethereum (ETH), both of which control over 60% of the crypto industry.

Despite the headway BTC and ETH recorded in the past week, a number of altcoins saw more impressive growths. These altcoins with the most remarkable growth are showcased below.

Basic Attention Token (BAT)

Basic Attention Token is the token that powers a new blockchain-based digital advertising platform designed to fairly reward users for their attention while providing advertisers with a better return on their ad spend.

Despite its low price currently pegged at $0.8496, up 3.46% in the past 24 hours, the token has always maintained a reputation as one of the most resilient altcoins amidst market surges. This week, BAT has recorded a 25.46% growth over the trailing 7-day period, placing it as one of the top earners for the week.

The Graph (GRT)

Despite shedding off as much as 6% of its accrued gains to be changing hands at $0.4096, the Graph remains one of the top earners for the week. 

The Graph is an indexing protocol for querying data for networks like Ethereum and IPFS, powering many applications in both Decentralized Finance (DeFi) and the broader Web3 ecosystem. During the week under review, the digital token has soared to a high of $0.4556 and has maintained a 26.84% growth within the same period.

ApeCoin (APE)

ApeCoin is arguably one of the newest sensations in town. Its debut, despite being filled with a lot of communal upheavals, APE is by far the biggest earner for the week, surging by over 713% at the time of writing to $8.46 after topping a daily high of $39.40 after making its debut on the Binance trading platform.

APE is designed to be a governance token launched by Yuga Labs, the startup that founded the Bored Ape Yacht Club (BAYC) NFT collection and now has the IP rights to the CryptoPunks collection. The large community surrounding the BAYC collection stirred the massive embrace of the APE coin.

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Analytics Firm Santiment Looks at What’s Next for Basic Attention Token After Altcoin’s Big Breakout

by Dailyhodl

Santiment says the Ethereum-based altcoin Basic Attention Token (BAT) may struggle to keep its momentum after the asset soared 37% to a new all-time high on Sunday.

In a new report, the blockchain analytics firm says that BAT has already shed about 20% of its market capitalization and that the token’s daily active addresses plunged back to 1,217 after hitting the largest single-day address activity of over 3,000 on November 26th.

These factors indicate a lack of fundamental support to provide for another leg up.

“In a similar vein, we see the number of new addresses interacting with BAT skyrocketing on three separate occasions this month (around local price tops) but flopping soon after, suggesting a lack of network-wide support for a prolonged rally.”

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Source: Santiment

However, the firm says other indicators suggest that the crypto asset still has the potential to drive up its price this year.

“While not ideal for its short-term PA, strong profit-taking activity can signal a lack of wholesale confidence in BAT’s future price potential, and that kind of uncertainty may help provide support for another leg up.”

Santiment suggests BAT holders are offloading their holdings and this activity may have bullish implications.

“Ideally, we’d see some signs of growth in BAT’s address activity in days to come, to go along with these (as of yet) tempered crowd expectations.

Assuming the price continues to decline from here, that could mark a nice bullish divergence for the coin.”

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Source: Santiment

Currently, BAT is trading at $1.37, down 4.8% on the day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia

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Privacy-Focused Web Browsing Altcoin Rises 37% After Launch of New Crypto Wallet

by Dailyhodl

The altcoin powering a privacy-focused web browser is skyrocketing after the announcement of an extension-free crypto wallet.

Anti-ad web browser Brave, powered by the Basic Attention Token (BAT), recently announced the release of Brave Wallet, sparking a 37% rally for the browser’s utility token, sending the crypto asset from a 24-hour low of $1.32 to $1.81.

“Today, we launched the Brave Wallet, a crypto wallet built into the Brave desktop browser, enabling Brave users to store, manage, grow, and swap their crypto portfolio from a single wallet.

Unlike most crypto wallets, the Brave Wallet does not require extensions; it’s browser-native, reducing security risks and reliance on extra CPU and memory.”

Brave says the wallet can be used to see CoinGecko crypto charts, exchange non-fungible tokens (NFTs), purchase digital assets with fiat currencies and interact with decentralized applications (DApps) on any Ethereum Virtual Machine (EVM) network.

BAT’s announcement comes on the heels of the company partnering with smart contract platform Solana (SOL), granting millions of Brave users and creators access to SOL’s vast decentralized finance (DeFi) network.

“Brave will integrate the Solana blockchain into the Brave browser, providing default Solana ecosystem support to Brave’s 42 million monthly active users and 1.3 million verified Creators.”

BAT has since stabilized and is exchanging hands at $1.47 time of writing.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Basic Attention Token Defies Wider Crypto Market Rout, Hits All-Time High

by Decrypt

The market capitalization of the entire crypto industry has plummeted in the past 24 hours, falling from $2.8 trillion to roughly $2.5 trillion. And though leading cryptocurrencies like Bitcoin and Ethereum have both seen their prices tumble, one token is showing surprising resilience: BAT. 

Basic Attention Token (BAT) is currently up 9.9%, at press time, after hitting an all-time high of $1.81 earlier this morning. The cryptocurrency is currently trading at $1.52, according to CoinGecko.

BAT is the native cryptocurrency for the privacy-centric web browser Brave. Instead of tracking users’ behavior and showing advertisements based on that behavior, Brave allows users to earn BAT for voluntarily viewing advertisements. They can also block all advertisements, but won’t earn any rewards for doing so. The coin was launched in 2017 via an initial coin offering (ICO), earning the firm $35 million. 

The token’s latest rise is, however, difficult to pin on any one event—but recent announcements and updates from Brave do offer some justification. 

Earlier this month, for example, the browser expanded beyond the Ethereum network and launched an integration with the Solana network. 

Like Ethereum, Solana is a smart contract-enabled crypto network, but boasts higher throughput and lower fees. It is for these advantages that Brave turned to Solana. The firm added that they would also roll out a Solana wallet integration at the beginning of 2022. 

Still, the Solana integration has been the only large piece of news around Brave and BAT.

Pulling data from Santiment, specifically social trends around the keyword “BAT,” provides further insight. The chart below indicates that a lot of chatter on Twitter, Reddit, and Telegram for this term began picking up on November 24. 

This metric exploded on November 25 and November 26 alongside the price of the cryptocurrency.

chart showing social trends along the price of BAT token
Social volume for the term “BAT” (blue) and the price of BAT (green). Source: Santiment.

But while BAT and Brave appear to be the topic of discussion this Thanksgiving, the broader crypto market did not enjoy the same kind of bullish attention. 

BAT flies high while Bitcoin, Ethereum falter

The leading cryptocurrencies, Bitcoin and Ethereum, have dropped 6.7% and 8.1% over the last 24 hours, respectively. Their downward trend has extended to other top coins, with Binance Coin (BNB) falling 9.9%, Solana (SOL) dropping by 10.2%, and Cardano crashing 8.8%. 

Cardado’s rout appears to be closely related to news that the trading platform eToro is restricting U.S. users from buying the coin after Christmas. ADA is down 15.0% over the past week.

Popular metaverse and NFT-related cryptocurrencies like Immutable X (IMX), Enjin Coin (ENJ), and Decentraland (MANA) have all fallen hard too. Just two days ago, MANA hit an all-time high of $5.30 but now trades at $4.57 at press time.  

The market dip has also shed roughly $3 billion from the industry’s entire market capitalization. It is currently hovering around $2.5 trillion at press time.

It should also be noted that the crypto sector’s market cap on Thanksgiving last year was barely $550 billion, a fraction of today’s sum even amid such bearish conditions.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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Basic Attention Token Up 25% Following Brave’s Solana Integration

by Decrypt

Basic Attention Token (BAT), the cryptocurrency of privacy-centric browser Brave, has shot up more than 25% in the last 24 hours.

BAT’s 25.7% surge follows yesterday’s announcement that the Brave browser will integrate with Solana, the fourth most valuable cryptocurrency by market cap.

According to a blog post shared on Brave’s website, the integration will see Solana become the default blockchain for decentralized app (dapp) support within the browser, because of its high speeds and low costs.

“With more and more users and creators requiring tools for fast and affordable access to the decentralized Web, this integration will seamlessly pave the way for the next billion crypto users to harness applications and tokens,” said Brendan Eich, CEO and co-founder of Brave, in the release.

The integration has had a more modest impact on Solana’s price, which is up just 1.7% in the last 24 hours, though it’s also risen by 21.6% over the last week, hitting an all-time high of $260 earlier this week.

Having reached 36 million monthly active users in September, Brave has been busily adding features in recent months; in June, the browser launched Brave Search, aiming to challenge Google’s dominance of the search engine market with privacy-centric features, such as not collecting users’ IP addresses or personalizing results based on identifying information.

In October, Brave Search became the default search engine in the browser, replacing Google. The browser also introduced Brave Talk, a privacy-focused video conferencing feature, in September.

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Brave to integrate with Solana blockchain on its privacy-enabled browser

by Cointelegraph

During Solana’s Breakpoint conference in Lisbon, Portugal, executives at Brave and Solana Labs announced that the Brave browser would integrate with the Solana (SOL) blockchain and feature Solana decentralized applications, or dApps, on its browser. Simultaneously, Solana will promote the adoption of Basic Attention Tokens (BAT), the native digital currency of the Brave Browser, among its dApp users.

Brendan Eich, CEO, and co-founder of Brave, had the following to say regarding the development:

With more and more users and creators requiring tools for fast and affordable access to the decentralized Web, this integration will seamlessly pave the way for the next billion crypto users to harness applications and tokens.

Meanwhile, Anatoly Yakovenko, CEO of Solana Labs, added:

For billions of people, the mobile web will be their gateway to Web3,” said Anatoly Yakovenko, CEO of Solana Labs. “Deep integration with browsers is key to helping DApps build the best web experiences. Brave’s announcement of Solana wallet support across all versions of their browsers is an important step to onboard the next billion users to Solana.

Brave is a privacy browser that enables users to block ads, trackers, and cross-site cookies. The browser also features a built-in digital wallet, similar to MetaMask that allows users to deposit their crypto and interact with dApps. Additionally, users can utilize BAT to tip their favorite content creators on platforms such as Twitter. The Brave Browser has 42 million monthly active users and 1.3 million content creators. 

Solana is a blockchain designed to power dApps and decentralized finance, or DeFi, protocols. The network is known for its speed and sub-cent transaction fees. Notable entities using its blockchain include cryptocurrency exchange FTX, music streaming platform Audius, USD Coin (USDC), NFT hosting platform Metaplex, and high-frequency trading firm Alameda. SOL has recently surpassed Cardano (ADA) and Tether (USDT) to become the fourth-largest cryptocurrency in the world by market capitalization.