Changpeng Zhao, the founder of Binance, has expressed his continued confidence in Binance Coin (BNB) despite recent challenges. In a recent post on X, Zhao celebrated BNB’s new listing on Revolut, a prominent European exchange with over 40 million users globally. This announcement comes amid a significant price drop for BNB, which has seen a decline of more than 9% today, part of a broader crypto market selloff. However, CZ’s remarks have sparked renewed optimism about the coin’s future, fueling expectations that BNB could rally to $800 in the near future.
Zhao’s comments highlight the importance of BNB’s listing on Revolut, signaling growing institutional acceptance of the asset. He also noted the increased interconnectedness of financial platforms supporting Binance, referring to Revolut’s new option for crypto purchases via Revolut Pay. This growing integration of traditional financial platforms with cryptocurrency exchanges like Binance marks an important step forward for both BNB and the broader crypto industry.
The addition of BNB to Revolut’s platform further underscores the token’s appeal and utility. As one of the leading exchanges in Europe, Revolut provides BNB with access to millions of new potential investors, which could drive greater adoption and possibly stabilize its price in the long term. This expanded access to a global user base may help BNB recover from its recent price slump and set the stage for a potential rally.
BNB Price Potential: $800 and Beyond
Despite today’s market dip, with BNB currently trading at $638, its Relative Strength Index (RSI) remains at 39, indicating that a price recovery could be on the horizon. Trading volume has increased by 5%, reaching $2.94 billion, further suggesting that investor interest in BNB remains strong. Analysts have pointed to a critical price level of $886, with expectations that once this level is surpassed, BNB could surge toward $1,036.
While the broader market sentiment remains cautious, particularly with the recent slump in open interest, many experts are optimistic about BNB’s long-term potential. The support from Binance founder CZ, alongside BNB’s increasing institutional adoption, may provide the catalyst for a recovery and a potential surge toward $800 in the coming days. With the crypto market anticipating another bullish run, BNB could be well-positioned to benefit from both institutional support and broader market optimism.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Binance Coin [BNB] Eyes Rebound: Key Support Levels and Bullish Signals to Watch
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