As you know, a few days ago I started taking a tour down memory lane to look at some of the former crypto tokens previously adopted by P0x. I wanted to see how they are doing with a bit of background thrown in for fun. Having already, said I am not going to discuss Ethereum, Optimism and DAI (as I have written about them all recently and having covered LoopRing, SPOT and Hydro/a it is now the turn of BAT.

BAT (Basic Attention Token) is the utility token of the Brave Browser advertising ecosystem designed to reward users for viewing privacy‑respecting ads and to let advertisers and publishers transact without traditional ad‑tech middlemen. Running on Ethereum as an ERC‑20 token, BAT was launched in 2017 and it aimed to create a new digital advertising model by rewarding users for their attention (hence the name), pay publishers directly while at the same time cutting out ad‑tech intermediaries. To benefit (so the theory goes) users simply have to opt in to Brave Ads through the Brave Browser to earn BAT, while advertisers buy ad space using BAT and publishers receive BAT from user contributions.

Seems simple.

I must be honest, for about the first year of my crypto journey I thought it was a StableCoin because it's price seemed to be fixed and not moving at all and my experience has only been negative. I did install Brave Browser and opt in for the adverts, but they never seemed to work for me and I acquired the grand total of 0.00000000 BAT for viewing Ads. I did receive quite a lot of BAT through P0x which I loaded onto Celsius and then what looked like a curse became a blessing in disguise. I can't remember exactly when it happened but suddenly and somewhat unexpectedly it pumped and where there is a pump there is always a dump - or at least a major downward correction. I deliberately and consciously moved most of my BAT off Celsius to Coinbase in anticipation of taking some profit in the form of USDC while at the same time adding to my BAT staking pile when I reloaded it. Sure enough it worked well enough and within a day or so the correction happened and I was quids in. Then, when I tried to move it back to Celsius, the gas would not only have taken my profit, but eaten into my original stack too. Fortunately I realised before completing the transaction. I think I blogged about it at the time. I guess the silver lining was that - given what happened later - was that at least I was now holding it elsewhere and I didn't lose it when Celsius imploded.

So where is BAT now in 2026?

BAT is currently valued at about £0.10, which is about half of what it was when I thought it was a StableCoin, and while in the last month it has started showing some upward mobility, it is still well below its ATH of $1.92 (achieved in 2021), it is not yet dead (like many of these former P0x Coins). This is largely down to a large support base estimated at 65m Brave Browser users and the continuing viability of its advertising model (even though it didn't work for me and others claiming that the rewards are no longer what they were). So in the end with BAT fundamentally being a working product with real utility, a large user base and price tied to Brave’s growth rather than hype cycles, it still has modest prospects. That aside and despite its strong fundamentals the evident slow price appreciation leads me to the inevitable conclusion that it is no longer a high‑speculation moonshot.

So, there you have it. As always stay safe and well my friends.