Binance Coin (BNB) has been making headlines recently due to its resilience in the market, similar to Bitcoin. The demand for BNB has been on the rise, leading to a bullish sentiment among traders. However, there is some concern that this upward trend could be delayed if the support level at $520 is breached.
One of the surprising developments in the world of cryptocurrency was the delay in listing BNB on Kraken Exchange. However, on Thursday, Kraken Exchange announced that deposits and withdrawals of BNB are now enabled, with the official listing set for April 22. BNB will be listed against the U.S. dollars, the EUR, USDC, and USDT, with geographical restrictions in place where applicable.
The announcement of BNB’s listing on Kraken Exchange sparked mixed reactions from the crypto community. While some were surprised by the delay, Binance co-founder Changpeng Zhao dismissed the concerns by calling BNB a ‘memecoin.’
The decision to list BNB on Kraken Exchange was strategic, considering the regulatory clarity that BNB has gained in recent years, particularly in the United States. This move comes as Kraken Exchange expands its services to compete with other industry players.
The adoption of BNB has been on the rise, thanks to the success of the Binance exchange. Additionally, the on-chain activity for the BNB chain has led to the burning of over 60 million tokens, worth over $34 billion.
In terms of price action, BNB has closely followed Bitcoin’s performance since the beginning of 2025. With a fully diluted valuation of around $86 billion and a significant trading volume, BNB has shown resilience amidst global economic uncertainties.
Looking ahead, BNB’s price has been forming a potential reversal pattern, with a strong support level above $520 and a bullish divergence in the Relative Strength Index (RSI). While the market sentiment is positive, traders will be closely watching the support level to determine the future direction of BNB’s price.
Overall, the listing of BNB on Kraken Exchange marks a significant milestone for the cryptocurrency and could potentially attract more investors to the platform. With the increasing adoption and market resilience, BNB is poised for further growth in the coming months.