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- Revolut has listed Binance Coin for trading.
- Despite the listing, BNB’s price has dropped considerably, which is in line with broader market trends.
Revolut, a global financial technology firm, recently allied with Binance, the world’s leading crypto exchange platform for BNB listing. Through the partnership, Revolut has listed Binance’s coin, BNB, on its platform, making it available to 40 million global users.
The Revolut and Binance Partnership
Changpeng Zhao, Binance’s founder and former CEO, drew the market’s attention to Revolut’s BNB listing in an X post.
“Again, I didn’t know about it until a few minutes ago. The community is growing,” Zhao wrote.
Many community members received the announcement with excitement and acknowledged that Binance’s Revolut listing of BNB is a huge achievement. They believe Binance can leverage Revolut’s 40 million global users to showcase its expanding platform.
Notably, retail users can now begin selling and buying BNB on the Revolut App using fiat currencies or crypto in their accounts. With 40 million users globally, including one-third from the UK, Revolut continues to expand its digital services by adding BNB to its offerings.
Revolut is primarily a fiat banking/card service firm. Its core businesses include digital banking services, foreign exchange, cross-border payments, international remittances, and crypto trading.
The BNB listing on Revolut opens new adoption opportunities to Binance customers. For Revolut, the integration could help increase its user base as more crypto enthusiasts will swarm the platform to trade BNB.
Meanwhile, the BNB listing is only one of Revolut’s recent crypto expansion moves. CNF reported in September that Revolut introduced Toncoin (TON) as one of its supported altcoins.
At the time, Revolut only opened the service to customers in the UK and Europe.
Recent BNB Performance and Outlook
Market participants anticipate that the integration of Revolut and Binance will ignite optimistic sentiments for BNB. However, BNB is still trading on a downtrend, as of this writing. Within the last 24 hours, BNB’s price decreased by 9.4% to trade at $635.
It is important to note that BNB’s decline in prices mirrors a broader bearish market sentiment. In the last 24 hours, the total crypto market cap decreased by 11.26% to $3.23 trillion. Bitcoin (BTC), the world’s leading digital asset, dropped to $93,924 from its all-time high of $108,282.
Meanwhile, BNB’s daily trading volume increased by 7.6% to over $3 billion, suggesting sustained investor interest and activity. Earlier in the month, BNB rose to as high as $727.87 before dropping to its current price.
As mentioned in a CNF report, analysts highlighted the $710, $650, and $632 levels as potential support levels for BNB.
However, they forecasted that BNB’s price could break above the critical $746 level if buying activity remains high. Hence, these analysts set a long-term price target between the $805 and $900 range for the exchange’s digital currency.
