The price of BNB has risen to $1,191 following Changpeng Zhao’s comments regarding the token’s recent listing on Coinbase eight years after it was first launched.
Summary
- CZ praised Coinbase’s decision to list BNB, calling it a “no-brainer” given the token’s strong liquidity and market position.
- BNB price briefly rose to around $1,191 before consolidating near $1,181, with technical indicators suggesting neutral momentum as traders await further catalysts from Coinbase’s upcoming listing.
On October 16, former Binance CEO and YZi Labs director Changpeng Zhao reacted to the news that Coinbase added BNB to its listing roadmap. CZ’s listing release served to slightly boost the price of BNB by 0.5% in the last hour.
“I woke up to this. Thank you for the support from industry peers,” he said Chang Peng Zhao in your mailadding a screenshot of comments from crypto figures like Tron (TRX) founder Justin Sun and Kraken, the Australia-based crypto exchange, regarding the listing in its latest publication.
According to Zhao, Coinbase’s decision to list BNB (BNB) should be considered a “no-brainer,” considering the token is currently the third-largest cryptocurrency by market capitalization. According data According to crypto.news, the market capitalization of the token currently stands at $164.9 billion. Excluding USDT stablecoin (USDT), BNB is the third largest cryptocurrency, behind only Bitcoin (btc) and Ethereum (ETH).
“Excellent liquidity, volume and ecosystem. Not listing it is a loss for the exchange itself,” CZ said, encouraging BNB to “keep building.”
Shortly after CZ shared his post, the price of BNB reached $1,991, approaching $1,200 before briefly retracing to the $1,180 level. In the last 24 hours, the token has fallen by 0.2%.
On October 15, the official Coinbase Markets account announced that has added BNB to its roadmap. According to the blog post shared, BNB will be added as an asset on the BNB Smart Chain, which already has built-in support within Coinbase. Additionally, the exchange will also list QCAD on Ethereum and KTA on Base (BASE) Grid.
Launched in 2017, BNB serves as the trading fee token and the primary gas asset for BNB chain transactions. BNB is also used for payments, staking, token launches, and governance proposals. In 2021, it officially rose to become the third-largest cryptocurrency by market capitalization and has pretty much stayed there.
in a separate mailCZ suggested that Coinbase should include more BNB chain projects. He argued that over the years, Binance has included several Base projects, but the same cannot be said about Coinbase including Binance projects.
“It’s not an exchange. I just recommend it, since we’re talking about being open, inclusive, etc. I think it’s also good for the exchange,” CZ said.
BNB Price Analysis
Market sentiment towards BNB has been mixed since Coinbase announced the addition of BNB to its listing roadmap, a move that could significantly expand the token’s accessibility to US-based investors. While some traders see the news as a long-term bullish development, others are more cautious, considering the ongoing regulatory scrutiny surrounding Binance.
CZ’s measured reaction on social media appears to have helped calm speculation that tensions could arise between the two exchanges.
BNB price is currently trading around $1,181, falling slightly after reaching $1,191 and even topping $1,214 on the day Coinbase announced it will list the token.
At the time of this publication, the BNB price is situated near the 30-day moving average, suggesting a consolidation phase after a modest bullish move earlier in the session. Momentum appears neutral, with no clear directional bias yet, as bulls and bears continue to contest the near-term trend.
The Relative Strength Index currently sits near 48, indicating neutral momentum and limited buying or selling pressure at the moment. This aligns with the BNB price hovering around the moving average, indicating that the market is likely waiting for new catalysts before making a decisive move.
The RSI’s repeated swing between 40 and 60 in recent hours suggests short-term indecision, with traders possibly digesting the broader implications of the recent news about Binance and its token.
If positive sentiment builds around the upcoming Coinbase listing, BNB price could test the $1,190 to $1,200 resistance zone again. However, a sustained break below $1,175 could signal near-term weakness, especially if broader market conditions remove risk.
