BNB Surges as Coinbase Prepares for Listing
BNB’s price has soared to nearly $1,191 after Changpeng zhao, the former CEO of Binance, praised Coinbase’s decision to list the token. This move comes eight years after BNB’s launch, marking a significant milestone for the cryptocurrency.
CZ commended Coinbase’s choice, calling it a “no-brainer” due to BNB’s robust liquidity and market standing. The token briefly peaked at $1,191 before settling around $1,181. Traders are now watching for further catalysts from the upcoming Coinbase listing.
On October 16, Zhao shared his thoughts on Coinbase’s plan to add BNB. He thanked industry peers for their support, sharing comments from crypto figures like Justin Sun and Kraken. He believes Coinbase’s decision is logical, given BNB’s status as the third-largest crypto by market cap, excluding stablecoins. With a market cap of $164.9 billion.
BNB’s listing on Coinbase is expected to enhance its accessibility to U.S. investors.However, market sentiment remains mixed, with some viewing it as a bullish sign and others being cautious due to regulatory concerns around Binance.
CZ’s calm response on social media has helped ease any potential tensions between the exchanges. BNB’s price is currently around $1,181,showing a slight dip after reaching $1,191. the Relative Strength Index is near 48, indicating neutral momentum.
Traders are watching for new catalysts. If positive sentiment grows around the Coinbase listing, BNB coudl test the $1,190 to $1,200 resistance.Conversely, a drop below $1,175 could signal short-term weakness.
