In a dramatic moment for the crypto market, the native token of Binance ($BNB ) avoided a deep decline thanks to simultaneous listings on leading platforms Coinbase and Robinhood. The price of BNB, which fell to a minimum of $1,054 after reaching an all-time high of $1,375 on October 13, has recovered by 5-7%, trading near $1,100. This occurred against the backdrop of a general market downturn, where $BTC dropped below $107,000, and the Crypto Fear and Greed Index reached "extreme fear" at a level of 29.
On October 22, Robinhood officially launched spot trading for BNB, making the token available to millions of American investors. On the same day, Coinbase confirmed plans to support the BNB/USD pair, adding it to the roadmap. These steps, despite industry controversies, bolstered the liquidity and legitimacy of BNB in the U.S., especially after the GENIUS Act. Binance CEO CZ praised BNB's multi-chain capabilities, while Brian Armstrong from Coinbase noted the growth of institutional interest.
CCN analysis shows that dual listings have played a key role in the recovery, preventing a breach of key support at $1,000. Now BNB may test resistance at $1,150-$1,200 if it closes above $1,173 (200-day SMA). The correlation with BTC at 59% promises synchronous growth if Bitcoin recovers.
This development signals the maturity of the market, where competitors collaborate for mass adoption. BNB, with its role in staking, governance, and the BNB Chain ecosystem, becomes a bridge between DeFi and traditional finance, stimulating on-chain activity and meme coin trading.
Experts predict that the listings will unlock a new influx of capital, making BNB more resilient to bearish pressures.
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