Coinbase cryptocurrency exchange announced on Thursday that it will add trading pairs for Basic Attention Token [BAT] on its retail trading platform making it the second ethereum based token to be listed on the exchange.
The BAT which is issued by the popular crypto-friendly Brave browser was first made available on Coinbase Pro platform last week.
In a post on its website, Coinbase explained that BAT will be available on the Coinbase.com website as well as its mobile apps for Android and iOS devices. With the development, it said users can now purchase and trade BAT tokens with Bitcoin [BTC], Bitcoin Cash [BCH], Ethereum [ETH], Ethereum Classic [ETC], Litecoin [LTC], 0x [ZRX] and Circle Dollar [USDC] which are already listed on the platform.
Coinbase noted, however, that users in New York will be unable to trade the BAT tokens just yet. It didn’t explain the reason for this but said it affects both retail and pro customers.
Coinbase committed to New Asset Listings
Despite being praised for its services and efforts in ringing cryptocurrency mainstream, Coinbase has often gotten the stick for listing so few tokens compared to other globally recognized trading platforms.
The exchange acknowledged this in its posts stating, “One of the most common requests we hear from customers is to be able to buy more assets on Coinbase.” It explained that its new listing policy which was published in September will hasten the process of listing new tokens on the platform.
As Smartereum reported, Coinbase added an ethereum-based token to its platform for the first time last month when it listed 0x tokens [ZRX]. This came as a surprise just like the listing of Ethereum Classic [ETC] a fork of the Ethereum blockchain.
Basic Attention Token [BAT] Price Watch
BAT token is designed as a means for advertisers to pay publishers for serving ads and pay internet users for viewing ads. According to the issuers, it is the token of utility in a new, decentralized, open source and efficient blockchain-based digital advertising platform.
Following the listing, the price of BAT token surged on exchanges at one point recording up to 5 percent gain in a few minutes reaching a 3-month high of about $0.39. The price built on momentum gained in October when the token saw more that 50 percent gain making it the best performing token of the top 50 ranked cryptos. The gains at the time coincided with an overhaul of the Brave browser. There were also rumors of the Coinbase listing which has now come to fruition.
The latest price surge appears to be short-lived as current data shows the coin trading at about $0.29, 12 percent down from the last 24 hours.
Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.