Basic Attention Token (BAT) is an ERC 20 token aimed at renovating digital advertisement. It works as a decentralized medium between advertisers, publishers, and users. It offers targeted ads instead of relying on third-party organizations such as Facebook, Amazon, or Google, which controls 90% of online information. It also includes an analytic dashboard to assess the result, measure the system, and machine learning algorithms.
The best part is it eliminates third-party organizations from shifting control of the digital advertising world. In this decentralized blockchain-based token, publishers, advertisers, and users can use digital advertising freely without the permission of any centralized organization. As a result, it increases the transparency of the served ads for three parties and offers user-friendly attention-based metrics and privacy.
Indeed, Basic Attention Token has a bigger aim, but it does not mean it has no drawbacks. It is only used in the brave browser, a popular web browser in different parts of the world. It strives for better adaptability in the long term. The main disadvantage is scalability because BAT does not have its own network. However, it can be resolved when developers prepare a new network for BAT.
We think that BAT is a good investment for the long term because it has good fundamentals with real-world digital advertising businesses. It is a competitor to Facebook, Google, Amazon, and similar business giants. It depends on the future adaptability in the market and the competition. There is a huge growth for digital advertising platforms, but it also depends on the renovation, adaptability, and facilities that the Basic Attention Token platform provides to the users.
One of the founders of BAT is Brendan Eich, an inventor of JavaScript language and co-founder of Mozilla Firefox. Like him, many inventors, developers, and founders are working behind that organization.
At the time of writing this post, BAT was trading around $0.401. On the daily chart, $0.4 was a strong resistance that will work as support now. Considering this view, it is a good time to invest for the short term in Basic Attention Token. Moreover, RSI is at 51, and MACD and Bollinger Bands suggest bullishness, at least for the short term.
Although the weekly chart has been consolidating, we think Basic Attention Token will turn bullish. $0.52 is a strong resistance level. However, if it breaks the resistance, the next resistance will be around $0.80.
BAT has not provided a good return to the investors in the last 12 months, but it is worth investing in for the long term. However, please do not forget to monitor the price to book profit at the right time.