Binance Futures launches BAT/USDT perpetual contracts with 50x leverage And BAT gains 10% to reach seven month high

Binance has announced that they will soon be offering traders access to up to 50x leverage on the native token BAT. In the announcement, the company stated that the Basic Attention Token (BAT/USDT) perpetual contracts will begin trading on 13 Feb 2020 from 08:00 AM (UTC) and users will be able to select the leverage they want ranging from a minimum of 1x up to a maximum of 50x.

Binance has started to take a precautionary measure in order to ensure that there would no market manipulation post the launch of the Futures product. The platform would be implementing a “pricing limit of ±1% on the mark price” within the first 15 minutes of post-trading. This move may have been a result of the exchange being drawn to the drastic price rise of certain cryptos, after announcing support for them on its platform.

Basic Attention Token released new desktop browser (1.3.113)

The release of the latest version of the Brave Browser late last week may have helped the price action. It has added sponsored images when a new tab is opened, for a 70% revenue share—if users opt-in to the program.

Brave is known for already offering a share of ad revenue if users opt-in to seeing ads on the browser. The privacy-focused browser blocks ads by default.

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

BAT gains up to 10% to reach seven month high

Basic Attention Token (BAT) chart | Source: Tradingview

In 2019, Basic Attention Token (BAT) was one of the clear leaders of the January 2019 – June 2019 rally. However, Basic Attention Token failed to maintain momentum and fizzled out after reaching 0.502 in April 2019. To say that Basic Attention Token’s fall two months before the rest of the market was disappointing is not saying enough. But we could be seeing a change in direction now. Today (February 12th, 2019) already represents the highest volume traded day since October 11th, 2019.

We’ve also seen Basic Attention Token tag new 6-month highs with a current daily high of 0.3088. The 0.3088 level also represents the next primary resistance level that Basic Attention Token needs to break before retesting the April 2019 highs. We could see Basic Attention Token facing some stiff resistance here on the daily chart due to some bearish divergence that exists between the RSI and Composite Index.

BAT has just gained up to 10% to push its market capitalization over $456 million for the first time since July 2019. This continues a recent surge of momentum that has seen BAT gain almost 57% in the last month. The price of BAT now stands at $0.32.

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