Hiding in Plain Sight: Will BAT's Price Catch Up to the Rest of DeFi?

avatar

Hiding in Plain Sight- Will BAT's Price Catch Up to the Rest of DeFi?.png

The price of crypto has been on a tear lately. The DeFi coins and TVL - total value locked - has been skyrocketing, but not all crypto projects seem to have benefited from this crazy rally in price. I've talked many times about my crypto investments and how I focus almost entirely on BTC, ETH, BAT and HIVE.

BAT is the token I want to focus on today and many in the space are wondering if BAT's time to shine is overdue. While many of these DeFi coins that seem to have popped up out of nowhere are going to the moon, projects that have real use case and a wide userbase like BAT are still locked at the ready.. Waiting for their moment.

Flipside crypto is provides blockchain analytics for many of the top cryptocurrencies. On their website, they've got a flow chart showing the asset flows of BAT.

What I'm noticing from this chart is that there is a lot of activity going on between DeFi and the userbase of BAT. Brave recently crossed over the 12m monthly active user mark and while not all of those users are BAT hodlers/users, they are potential BAT hodlers/users - which is meaningful to me.

Aug-10-2020 10-44-26.gif

BAT Supply Activity 7/18 - 8/5 via Flipside Crypto

Brave is the audience and BAT is the utility. I like the BAT team's approach to building a project - they're constantly working on the Brave browser and are pushing the envelop in terms of making the best product available while they simultaneously build a wide group of users. The BAT ecosystem is going on in the background and most of the users of Brave aren't even aware of it (yet).

If you look at some of the most popular companies and influencers of today, you'll see that they followed a similar model: build audience, then monetize.

Flipside Crypto

The DeFi Use Case for BAT

Thanks to the interconnected society that is cryptocurrency, we've seen BAT adopted as the single most utilized crypto in all of DeFi. Between the launch of COMP and several other factors, BAT generated a transaction volume of $931 million USD (more than ETH and DAI combined).

I'm not sure if it was just the Comp crazy of early 2020 or if this trend of BAT as the most utilized DeFi coin will continue. Either way, I see a lot of different use cases for BAT in the future. The fact that the token is getting used for DeFi is just a show of confidence by the ecosystem in my opinion.

In the short term, I look at this as a potential win as a speculative investor. In the long-term, I'm still betting on the abiltiies of the Brave/BAT team to execute on a 1-20 year roadmap that will bring in hundreds of millions of Brave browser users and convert a % of those users into paid viewers of ads and ultimately, users in the BAT ecosystem.

Needless to say, I've been stacking BAT over the past 2 weeks.. expecting a major rally as the coin lags behind the rest of DeFi in terms of price but leads the charge in terms of transaction volume generated.


LeoFinance is an online community for crypto & finance. We run several projects that are powered by Hive and the LEO token economy:

Track Hive DataBlog & Earn LEOLEO FAQ
HivestatsLeoFinanceLearn More
Trade Hive TokensLearn & ContributeHive Witness
LeoDexLeoPediaVote

Posted Using LeoFinance



0
0
0.000
16 comments
avatar

Thank you for the analysis, very clear and simple for people like me, who barely ventured into this world of crypto.

Thank you. I'll keep an eye on your progress.

0
0
0.000
avatar

I appreciate those kind words. I usually try to keep the posts pretty casual.

BAT is definitely one to watch out for. I think we'll see something interesting happen in the next month or so ;)

Posted Using LeoFinance

0
0
0.000
avatar

Great post, I need to stop "half-stepping" and buy me some BAT tokens.

Posted Using LeoFinance

0
0
0.000
avatar

Looks like the crypto gods are smiling upon me right now. BAT is up since I published this. I think if you can get in around $0.25, it's a decent buy. I bought most of mine sub $0.20, but recently made a big purchase at $0.23

Posted Using LeoFinance

0
0
0.000
avatar

I was just thinking about what I should do with earnings from LINK. Thanks. BAT is a great idea and completely undervalued token. Did you see that LINK had more trading volume than BTC on Coinbase yesterday? I still have some LINK but not sure what to do besides take more earnings. Feels like it's gonna crash at some point. ??? 🙂👍

Posted Using LeoFinance

0
0
0.000
avatar

Even today, LINK has more volume than BTC on Binance.

Posted Using LeoFinance

0
0
0.000
avatar

Wow on Binance. Crazy. I grabbed some earnings just under 13 thinking I was sly, then LINK hurdled past 14. What? Maybe I should just Hodl what's left. 🤔

Posted Using LeoFinance

0
0
0.000
avatar

Hodling till price stabilizes is the best option. Same thing happened to me with my 1UP tokens. Sold at a little pump but before my very eyes, I saw the price at 5X that which I sold.

Posted Using LeoFinance

0
0
0.000
avatar

I missed the boat on LINK to be completely honest. People kept telling me about it and I was too focused on Leo stuff to pay attention.

What goes up must come down. It's impossible to time the top and bottom perfectly but when I am personally holding an asset like BTC, ETH, BAT, HIVE, etc. and it goes up double digit+ %, then I usually set a plan to sell a small amount each day that it stays at those high levels.

If it keeps going, then you've sold a small enough amount that you've still got skin in the game. If it does drop, then you can buy back in or take your profits elsewhere. That's just my strategy though, not financial advice ofc ;)

Posted Using LeoFinance

0
0
0.000
avatar

I would never take your suggestions as financial advice. 😁

And that's pretty much what I've been doing. Just got lucky to put 50 bucks in at 2.50. I'm perhaps a bit heavy on the sell side so I think I'll wait and see how far this pony rides. 👍

Posted Using LeoFinance

0
0
0.000
avatar

When you say 'BAT's moments hasn't yet come", to me, it only means that it has little money being invested into it. So, when many persons start to invest in BAT with meaningful amount of money, the price will certainly skyrocket.

Posted Using LeoFinance

0
0
0.000
avatar

It's a funny situation. When you look at the numbers, BAT is the most used DeFi coin for collateralized loans. The circulating supply of BAT has been locked up and now there is actually a liquidity squeeze similar to how HIVE works.

The question is when a large investor or a large wave of investors will swoop in on some sort of hype cycle and buy BAT. In crypto, fundamentals tend to take a backseat and we see the hype cycle take over. I think BAT is at the beginning stages of its own hype cycle. We'll see what happens :)

Posted Using LeoFinance

0
0
0.000
avatar

I think BAT is at the beginning stages of its own hype cycle.

Truth is, I've not been considering BAT but I think it's time to accumulate some fractions. Should in case a pump comes.

Posted Using LeoFinance

0
0
0.000
avatar

BAT is one of those like Hive in that when people can earn it, they aren’t as interested in purchasing it until they have some kind of staking or passive income ability. Same with Hive, it’s when people actually see that there is a better APY on Hive than most other projects or even traditional markets for that matter when you use a combination of investing and staking, curation, and dlease. I stack my BAT to use as collateral for loans if I ever need it. Currently it is locked up earning 4% on crypto.com. I think we need some kind of collaboration with BAT and Hive, maybe we can get uphold to list us ;). I can take my earned BAT and go into Hive

0
0
0.000
avatar

BAT and HIVE is a great idea. There was a Twitter campaign asking Uphold to include Hive. My BAT is locked up as well :)

0
0
0.000