The ‘Coinbase Effect’ Turns Bearish After BAT Prices Drop Post-Listing

The price of browser startup Brave’s Basic Attention Token (BAT (LON:)) fell by as much as 20 percent in the past 24 hours.

Trading for BAT officially went live yesterday on Coinbase, the largest cryptocurrency exchange in the U.S., a move that followed the token’s inclusion on Coinbase’s professional platform.

Coinbase initially teased the idea of listing BAT among four other cryptocurrencies on July 13, triggering a 27 percent jump in its price at the time. BAT was able to reach a 3-month high of $0.45 just 11 days later.

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