Key Notes
- Revolut expands its crypto offerings by supporting Binance Chain (BNB), providing users with more trading opportunities.
- A crypto commentator praised Binance and CZ for building strong products since Bitcoin’s inception.
- BNB’s price has decreased by 20% over the last three weeks, but technical patterns suggest a potential correction.
Revolut has expanded its crypto offering by adding Binance Coin
BNB
$664.2
24h volatility:
2.1%
Market cap:
$96.65 B
Vol. 24h:
$1.63 B
, giving users more trading options. On his official X page, Binance co-founder and former CEO Changpeng Zhao (CZ) shared that Revolut has started supporting BNB. The former CEO stated in the post that he learned about the development minutes before announcing it on his social media page.
CZ Surprised by Binance Chain Listing, Community Reacts
CZ expressed his surprise, saying he didn’t know about the listing. He then acknowledged that the community is growing. A user also commented that the new development allows users to buy crypto on Revolut and pay Binance, to which CZ replied that he also didn’t know. A crypto commentator with more than 150,000 followers, C4B Freedom, praised the Binance team and CZ for their product.
The user commented that when a product is good, it will surely be well adopted, noting that Binance and CZ have built the strongest products since Satoshi created Bitcoin.
BNB Price Action and New Developments Fuel Growth Potential
The price of BNB has dropped 20% in the last three weeks, with the past three days in the red. However, a broader look at the price action shows that BNB could soon be due for a correction.
The daily chart shows evidence that Binance Coin has been trading within an ascending triangle since the beginning of August. This pattern is characterized by two trendlines: one serves as the base support, keeping the price from declining further, while the other serves as resistance, capping the BNB price increase. The chart suggests that the decline started when the price reached the top of the ascending channel, with the potential target being the channel’s base. Many buyers could be looking at this point as a source of liquidity for a bullish reversal.
BNB has been engaging in various activities that could help spread the word about the project and even increase engagement in its ecosystem. usdx.money recently revealed plans to continue building on the Binance Chain. Additionally, Osprey Funds revealed that it had launched the Osprey BNB Chain Trust. This marks the first US publicly-quoted fund based on BNB, the native token of the BNB Chain ecosystem, offering investors a unique way to gain exposure to the fifth-largest cryptocurrency by market capitalization.
Binance Chain is also building a developer community and helping them scale up their projects through its MVB 9 program. Participants benefit from chats with industry leaders, networking opportunities with other founders, and access to resources that help foster growth.
The various activities surrounding the token could attract more users, boosting the project’s growth and potentially increasing its value. Additionally, the recent PancakeSwap Bridge allows individuals to seamlessly transfer assets to BNB Chain from the PCS platform, further drawing in participants and developers. This could enhance utility and contribute to the long-term value of BNB.
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Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor’s and master’s degrees in linguistics. When not writing, he trades forex and plays video games.
