Partnership with Binance splashing interest to BAT

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garry
Mar 25, 2020

I've watching BAT climbing from the bottom of the Emerging Trends list today.

Basic Attention Token ended up at 5th position and then disappeared.


Is this something to make possible profit of? Let's see.


Takeaway

  • Summary: Finding out is it a good moment to short BAT
  • Tokens covered: BAT
  • Metrics used: Social volume, Daily Active Addresses, Development Activity, Velocity, Top holders, Top transfers


  1. 1. First of all, the reason why BAT was trending is
  2. "Privacy Browser Brave Integrates Cryptocurrency Trading Through Binance"


2. Social interest to BAT itself, measured in amount of mentions looks like this:

Around 130 mentions at the top, nothing quite special.


3. The 'Speculometer', Daily Active Addresses:

Where's the spike? No speculative activity happening lately! No speculative interest in BAT.


4. Development activity?

Oh, yeah, they've been really building hard lately. Respect.

Average 30d devactivity metric shows 26.5 for BAT. And 40.9 for SAN. Sorry, offtopic here.


5. Token velocity:

Wow. BAT token velocity set all time high recently.

Taking into account 1) Daily Active Addresses quite low and 2) Token Velocity (how many times a single token changes wallets) at ATH, I would suggest this was some kind of testing activity involving BAT tokens moving back and forth many times.


6. Top holders:

Top 50 non-exchange biggest holders buying through the drop and now keep selling on uptrend.


7. Holders distribution:

Noticed here that almost all retail cohorts, owners of up to 100,000 BAT, keep steadily accumulating. Three wealthiest cohorts are either hodling or selling lately. Like a one below.


8. Top BAT transfers.

This is a table of biggest BAT transfers last week:

Many transfers are coming from exchanges here. And one interesting wallet "0x447..." looking like this:

As far as I could track, these BAT came from Maker vault, being used as collateral.

Chunks of these tokens now start reaching exchanges - https://etherscan.io/address/0xf1aac303e9b04cecc8fdfcbeb64556d96b869a49#tokentxns


Summary


It all looks like a short-lived news related splash of interest to BAT. No speculation around. Quite inactive whales. Finally some rumours say this pandemia started with a single bat.


I'd keep watching for BAT's onchain data and it's presence in Emerging Trends before making any decisions.

bat
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garry
Mar 25, 2020

Thanks for reading!

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Conversations (2)

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socialtrends

7 days ago

Have you noticed some disbelief in the crowd reaction to the price increase?

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garry

Author
6 days ago

yes, less then excitement