Category: Price Watch
KuCoin listed Binance’s native cryptocurrency Binance Coin, with India-based Bitbns following suit, making BNB accessible to another 1.3 billion people.
Binance Coin reaches a broader audience
In a blog post, KuCoin, a Singapore-based cryptocurrency exchange, announced that it will support the projects running on Binance Chain and list Binance Coin (BNB) in order to meet its users’ demands for new blockchain technologies.
Binance Coin (BNB) is now on KuCoin. Supported trading pairs include BNB/BTC and BNB/USDT. Deposits will open at 16:00 on June 19, 2019 (UTC+8), trading will start at 18:00 on June 19, 2019 (UTC+8) and withdrawal will open at 18:00 on June 21, 2019 (UTC+8).#KCS #BNB #BTC #USDT pic.twitter.com/e4NxFmTEgg
— KuCoin Updates (@KuCoinUpdates) June 19, 2019
According to Michael Gan, CEO of KuCoin, the listing of Binance Coin goes alongside the firm’s mission to support promising blockchains and push the mass adoption of blockchain technology.
KuCoin is always willing to support promising blockchain projects that bring values to the world. Blockchain mass adoption is the end game and we are all going after the same objective. 💪 https://t.co/pV1UA0ILin
— Michael Gan (@gan_chun) June 19, 2019
Very smart move from KuCoin to support #BinanceChain and $BNB.
1. Access to many strong projects already (and will be) on Binance Chain.
2. Attract BNB traders and holders, especially users we had not been able to service. https://t.co/7EX5bC1kAR
— CZ Binance (@cz_binance) June 19, 2019
Following KuCoin’s steps, Bitbns, one of the newest exchanges in India, also announced that it will support Binance Coin. Although trading and withdrawals are not available yet, Bitbns customers can now deposit the tokens into the exchange.
— Bitbns (@bitbns) June 19, 2019
Zhao took to Twitter to express that the listing will make Binance Coin accessible to another 1.37 billion people.
— CZ Binance (@cz_binance) June 20, 2019
At press time, the price of BNB did not appear to respond to the news.
BNB Technical Analysis
On the 1-day chart, there is a bearish divergence forming since the price of BNB has been reaching higher highs while the Relative Strength Index has been making new lows. This bearish pattern does not provide a precise selling point, but it could be signaling that the bullish momentum that this cryptocurrency has gone through could soon change in direction.
The TD Sequential Indicator also gave a sell signal with a sequential thirteen candlestick. If Binance Coin was indeed poised to retrace, a move below the 7-day moving average could be used as a confirmation point. Breaking below this moving average could take BNB down to test the 50 or the 100-day moving averages, sitting at $30 and $25, respectively.
However, it is likely that volume will start picking up given the listings on KuCoin and Bitbns, which exposes the token to a broader range of investors. If BNB moves above the recent high of $36.40, the bullish trend will continue.