Basic Attention Token Is Down By 14%: Price Analysis

The Basic Attention token is down by 14 percent with a price of $0.1706 USD which means it achieved a drop in a second consecutive day by still being in a downtrend with currently being 23 percent below its 20 days moving average. As per the Basic attention token news, the altcoin could try and stay above this level which will be critical to sustaining short-term momentum.

The price did go up 2 percent over the past 5 days and in terms of volume, the price move yesterday occurred on a volume that was about 5 percent bigger than the 7-day average volume. In terms of an expected trading range, the Bollinger bands on the BAT token suggest the price could bounce between $0.18437 and $0.26258 based on the volatility over the past 14 days. The current proximity of the price to the bottom of the range could make purchasing an attractive opportunity for the traders that are interested to buy right now.

The market capitalization of the basic attention token is around 246 million USD. The NA transactions among the BAT token holders occurred yesterday and it saw a wallet count NA by NA. In order to understand the engagement of the token, we can see that the ratio of daily active users to monthly active users stands at 0.04 with 979 wallets making a transfer over the day while 21,756 wallets made a transfer in the previous month.

In regards to the wealth distribution, the top 1000 Basic attention token wallets hold more than 92 percent of the total money supply of the token. The percent of the currency that was owned by wallets both belonging to exchanges and richest wallets, comes out to 4.08 percent of the money supply. Exchange ownership increased by -0.14 percent over the previous week while the overall percentage of the top 1000 richest wallets increased by -0.1 percent. Basic Attention token has a smart contract that owns about 0.02 percent of the total money supply which hasn’t changed over the past week.

Also, the Basic Attention token is down but the Twitter followers and supporters went up by 94 percent. Also, a lot of support for the token is forming on Reddit as well with a 104 percent increase in the previous week.