Basic Attention Token Notes a Steep Decline in Active and new Addresses

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Basic Attention Token is the native “currency” issued to users of the Brave browser. Despite its initial appeal a while ago, it seems fewer new and active addresses are recorded lately. Turning this ship around may prove somewhat challenging. 

Active Basic Attention Tokens Addresses

According to the statistics provided by Glassnode, it would appear that BAT is losing some ground. More specifically, the number of active addresses holding Basic Attention Token is on the decline. That is rather surprising, given the current overall momentum. It has been a while since Brave came out with a new feature, although there appear to be more advertisers. 

To be more specific, Brave users can earn Basic Attention Token for visiting specific advertisements. This applies to both desktop and mobile users alike. While no one gets rich from this token, it is a nice bonus to reward loyal users. All of this is on top of the native prominent features Brave offers, including blocking trackers. 

BlocDesk basic Attention token AA
Source: Glassnode

That being said, it seems as if there are fewer and fewer active addresses associated with BAT. This decline has been going on for about two months. The last peak was recorded near June of 2020. Ever since, more advertisers have come on board to reward Brave users for checking their ads. That in itself should lead to more active addresses, yet it is not the case.

Additionally, if more users install the browser, these numbers should go up as well. A desktop installation is counted as 1 active address, with the same user installing Brave on mobile counting as another. There is no real reason for these numbers to go down as of right now. Even so, that is exactly what is happening in recent months. 

Attracting new Users is Crucial

One possible contributing factor is the lack of growth for Basic Attention Token. More specifically, there are fewer new addresses being recorded. This can help explain why the number of active addresses has begun tapering off. This is one crucial aspect that needs to improve sooner rather than later. 

BlocDesk Basic Attention Token NA
Source: Glassnode

Catering to new users will not come easy. After all, Brave has been around for a while now with no real groundbreaking updates as of late. It is unclear which features can get more people interested in this browser, though. 

It is also worth noting the Basic Attention Token price is facing some issues. More specifically, the BAT value has decreased significantly in the past 90 days.  While most crypto markets have seen a similar struggle, it is evident that BAT needs to recover quickly. The all-time high price of $0.9595 is well out of reach right now. 

The post Basic Attention Token Notes a Steep Decline in Active and new Addresses appeared first on BlocDesk.

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