BAT Listed on Coinbase Pro, Price Jumps 32 Percent Within Minutes of Announcement

Cryptocurrency exchange Coinbase listed the Basic Attention Token on its "Pro" trading platform on Nov. 2, after months of speculation surrounding the support of popular altcoins.

A utility token powering the Brave browser and marketplace, BAT is the world's 30th largest cryptocurrency by the total market cap of $295 million.

Coinbase's decision comes after months of retail speculation regarding the listing of altcoins on the exchange.

While the bourse counts 10 million users on its platforms, its business practices are typically conservative and tend to follow strict regulatory guidelines.

Currently, customers are able to deposit BAT on Pro's trading platform for an undefined period - until "Sufficient liquidity" is amassed for the digital asset.

Once the latter is achieved, the BAT/USD trading pair will be the first to open trading.

Similar to previous altcoin listings, Coinbase shall introduce a four-step process for the responsible trading and onboarding of new clients, investors, and traders - transfer-only, post-only, limit-only, and full trading.

Although BAT is a decentralized, borderless cryptocurrency, citizens from New York will not be able to purchase BAT due to a strict regulatory climate surrounding financial startups in the region.

At the time of writing, BAT trading is up 32 percent at 33 cents from a low of 26 cents on Nov. 1.

The price jump is explained by the colloquially-dubbed "Coinbase Effect," meaning immense price spikes of a particular asset after Coinbase makes a listing announcement.