Binance Includes Basic Attention Token (BAT) and Tether (USDT) Trading Pair on its Platform

David CoxMarch 6, 2019Last Updated: September 17, 2020

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Binance, the largest crypto exchange in the world, made an official announcement via its blog that the cryptocurrency pair BAT/USDT will open trading on its platform from March 4, 10:00 am UTC.

The Basic Attention Token or BAT is the brainchild of Brendan Eich, the co-founder of Mozilla which releases Firefox Web Browser. Eich is also said to be the creator of JavaScript. BAT is fully open source, and it is built on top of the Ethereum blockchain. The asset is mainly used as a unit of account between advertisers, publishers, and users in a new, blockchain-based digital advertising and services platform. The token is not a digital currency, security or a commodity. It is named so because it pays the users for their attention while providing advertisers with more in return for their ads. Basic Attention Token is a first of its kind cryptocurrency that introduces a decentralized, transparent digital ad exchange.

As of March 2019, BAT tokens are worth $0.175723 a piece, gaining 0.02% in the last 24 hours, according to CoinMarketCap. The market cap of the company is currently $217,996,193 with about 1,240,566,787 BAT in circulation. Basic Attention Token is ranked 27th by its market cap.

The BAT tokens are already trading in several pairs on Binance Cryptocurrency Exchange, including Binance (BAT/BNB), Bitcoin (BAT/BTC), and Ethereum (BAT/ETH). With a total activity of more than 32%, BAT/BTC pair remains the most active of the lot. Tether (USDT) is presently ranked 7th by its market cap and is backed by one US dollar for each token issued. Experts agree that the Basic Attention Token will gain an additional boost when paired with Tether.

BAT community primarily aims to address fraud in digital advertising because the technology created by the company identifies the attention of the user about the asset. Their website claim that middlemen, trackers, and fraud overrun the digital advertising business. “BAT can change the way in which digital content is published on the internet,” says Eich.

The team has also released Brave, an open source browser focused on privacy, as a part of the same BAT ecosystem. Through Brave, Eich is trying to close the gap that currently exists within today’s digital content market.

Basic attention token is funded by Founders Fund, Foundation Capital, Propel Venture Partners, Pantera Capital, DCG, Danhua Capital, and Huiyin Blockchain Venture among others.