BNB Attestation Service (BAS) posts price records after 700% rally week

Binance Attestation Service (BAS) reached an all-time peak after several days of relentless climbing. BAS rose above $0.11 despite the market’s slow recovery. 

Binance Attestation Service (BAS) is another token related to the Binance ecosystem that defied the recent market weakness. BAS has been climbing to new highs for the past week, tracking the expansion of BNB. 

Binance Attestation Service token BAS reaches all-time high on whale buying
BAS reached a series of price records, on a mix of whale buying and an ongoing campaign for Binance Wallet users. | Source: Coingecko

BAS traded at over $0.11 in another mid-week rally, up 150% in the past day. The token went vertical in October, after trading around $0.01 since its August launch. 

In the past week, BAS volumes also reached a record of over $200M in 24 hours. The token now aims to retain its new valuation, while also spreading its influence on the Binance ecosystem. 

BAS rises as whales keep accumulating

The recent BAS rally comes with a share of whales buying the newly active token. BAS aims to become key to BNB Chain users, with buyers active on KuCoin, as well as PancakeSwap. 

One of the whales spent over $2M in total on the token. This whale has been buying even at all-time highs above $0.11. 

The other major buyer, a Token Millionaire wallet, holds over $22.17M in assets, and has acquired BAS as low as $0.05. The two whales were active during this week’s token run, which led to over 700% in total appreciation.

Additionally, the token deployer address, belonging to the project’s main developer, holds 1.29M BAS and has only sold 5,000 BAS in the past day. Based on Bubblemaps, the supply is distributed to small wallets, which are still interconnected and bundled, inviting caution about the token. 

BAS still relies on DEX activity and smaller exchanges, as the project has not even been added to Binance Alpha. BAS is still in the early stages of price discovery, and smart money may be positioning for additional listings and more active trading. 

BNB Attestation Service aims to create on-chain passport and secure identity

BNB Attestation Service aims to create a Web3 identity, serving as a passport for on-chain activities. The project launched as an IDO and has not received attention from funds or any special backing. 

Currently, BAS aims for social media marketing and campaigns to bring more users to its identity technology. The service is now promoting Passport BNB, an identity tool that can be used within Web3 activities. The Passport BNB project is running an airdrop campaign for additional TOY tokens. The token is also getting promoted in a Binance Wallet campaign, encouraging buying, holding, and verifying balances.

The project is also encouraging the holding of the IDO allocation, expecting ongoing appreciation for BAS tokens. 

This is one of the reasons BAS has not fallen. Insider whales are also cautious, with even top traders cashing out less than $300K. However, the token has still seen selling pressure from whales at the peak.

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Source: https://www.cryptopolitan.com/bas-reaches-all-time-high-on-whale-buying/