BAT’s Coinbase pump is not over yet – this is how it played out with ZRX

Basic Attention Token or BAT was the second ERC20 token added on the largest crypto exchange Coinbase. However, BAT was only listed on the Coinbase Pro (formerly known as GDAX) and the listing on the actual Coinbase (basic) has not yet happened.

One Redditor found an interesting correlation between ZRX and BAT listings and how their prices behaved in the light of Coinbase announcements.

Both ZRX and BAT were among the mentioned tokens on an article published on Coinbase for the first time in July. Since that article, both ZRX and BAT have both went up in comparison to ETH 105% and 155% respectively. ZRX has its pump and settling down cycles behind it but BAT is yet to finish its final stage of the “Coinbase pump”.

ZRX Coinbase Pro listing happened on October 11th and 5 days later, on October 16th, they were listed on the Coinbase Basic. The Pro listing caused a 35% increase to ETH and the Basic listing saw it go another 42% up to ETH. There was some dying down in between so the overall increase was 52%.

As for BAT, this analyst writes:​

BAT stats:

When ZRX was announced for Coinbase Pro on Thursday the 11th of October

BAT went from 0.0008 —> 0.00088 for a 10 % increase — volume jumps from average $2.5 million/d to $13 million /d in the following days before dying down

​

When ZRX was announced for the regular Coinbase on Tuesday the 16th of October

BAT went from 0.00088 —> 0.001 for a 14 % increase — volume jumps from average $4 million/d to $26 million /d in the following days before dying down

​

BAT was announced for Coinbase Pro on Friday the 2nd of November (12:00 PM San Fransisco)

Goes from 0.0013 —> 0.00167 for a 25 % increase — volume jumps from average $9 million/d to $71 million /d in the following days before dying down

​

Thoughts:

So it would seem that BAT could potentially have some gain on the ratio but then when you look how much BAT has gained in anticipation of the Coinbase listing it becomes a little hard to justify. You have to note however that the higher a market cap for a coin is, the harder it becomes to increase. Between the ZRX Coinbase listings and the BAT Coinbase Pro listing a new version of the Brave browser was released that also seemed to have an effect on the price.

Read our comparison of Brave vs Firefox.

As they say, history doesn’t repeat itself but it does rhyme. It seems very likely that we will have another pump leg for BAT before going into the standard dump stage. So trade carefully and don’t get too greedy if the pump starts looking too good – take your profits when you feel it’s the right time and, if you are a BAT believer, wait the dip to buy again as that will surely come. It always does.

intelligent crypto
How are  regular people making returns of as much as 27,144% in a year?  By picking the right coin at the right time - click the button to learn more.
Crypto arbitration still works like a charm, if you do it right! Check out Bitsgap, leading crypto arbitrage bot to learn the best way of doing it.

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Torsten Hartmann

Torsten Hartmann

Torsten Hartmann has been an editor in the CaptainAltcoin team since August 2017. He holds a degree in politics and economics. He gained professional experience as a PR for a local political party before moving to journalism. Since 2017, he has pivoted his career towards blockchain technology, with principal interest in applications of blockchain technology in politics, business and society.

We will be happy to hear your thoughts

Leave a reply

CaptainAltcoin
Logo