Coinbase added BNB to its listing roadmap, commemorating a rare direct interaction between the two largest crypto exchanges.
The exchange mentioned that this listing may have special caveats, possibly inhibiting regular trading operations. This is a developing situation, which could change radically depending on a few things.
Coinbase to List BNB
BNB has been on a bit of a roller coaster lately, hitting an all-time high and then backsliding as its blockchain becomes more prominent in the meme coin space.
SponsoredToday, however, an unexpected development could boost BNB even further, as Coinbase will list the asset soon.
However, Coinbase added some important caveats, saying that actual BNB trading is “contingent on market-making support and sufficient technical infrastructure.” Still, Binance’s token is one of the largest assets by market cap, so meeting these requirements shouldn’t be hard.
Scandals and Uncertainty Inhibit Price Performance
Nonetheless, this recent development hasn’t completely resolved the situation.
Binance has faced a lot of criticism for its role in the recent Black Friday crash and other scandals. This situation has created some scrutiny for BNB, which has continued correcting today despite a brief boost from the Coinbase listing:
At this rate, it’s difficult to determine whether this unprecedented overlap between Coinbase and Binance will continue to benefit BNB.
The exchange’s listings typically have a well-documented trend of benefitting the relevant tokens, and that should certainly apply to an asset with one of crypto’s largest market caps.
Plus, Coinbase is facing its own share of controversies too. Traders should keep an eye on this event as it develops, as a lot of variables are completely up in the air right now. Depending on how the situation progresses, though, Coinbase’s BNB listing could cause a lot of chaos and opportunity in the markets.
Notably, this is the first time Coinbase has listed a major altcoin from its direct competitor. Meanwhile, Binance has not listed HYPE yet.
