BNB Chain and MEXC announce partnership to fast-track listings and amplify exposure for new projects

Source Fxstreet
  • BNB price hovers around $577 on Thursday after bouncing off its key support level the previous day.
  • On Wednesday, BNB and MEXC announced a partnership to accelerate listings, boost global exposure, and support high-potential projects.
  • This aligns with BNB Chain’s $100 million Liquidity Incentive Program, which encourages exchanges to list native BNB Chain tokens, enhancing ecosystem liquidity.

Binance Coin (BNB) price stabalizes around $577 on Thursday after bouncing off its key support level the previous day. On Wednesday, the BNB Chain and MEXC exchange announced a partnership to accelerate listings, boost global exposure and support high-potential projects. This aligns with BNB Chain’s $100 million Liquidity Incentive Program, which encourages exchanges to list native BNB Chain tokens, enhancing ecosystem liquidity.

BNB and MEXC partners to boost listing

BNB Chain and MEXC exchange announced a partnership on Wednesday. The partnership will focus on providing new projects with faster market access and global exposure. This collaboration builds on MEXC’s announcement, highlighting support for BNB Chain projects through expedited listing channels and priority reviews for MEXC Alpha Ranking. 

This aligns with BNB Chain’s $100 million Liquidity Incentive Program, which encourages exchanges to list native BNB Chain tokens, enhancing ecosystem liquidity.

This partnership indicates a positive outlook for BNB Chain. It is easier for new projects to list on MEXC, a major centralized exchange (CEX), boosting ecosystem activity and adoption and potentially deflationary pressure on BNB’s supply, which could support a higher price.

BNB Price Forecast: Bounces off key supportstabilized

BNB price faced rejection from its 200-day EMA on Friday and declined 7.75% last week. As of this week, it continued its decline and retested its key support level of the 61.8% Fibonacci retracement (drawn from its August 5 low of $400 to the December 4 high of $793.82) at $550.44, which roughly coincides with the upward trendline (drawn by connecting multiple lows with a trendline since early August). However, it found support at this level and bounced off by 5.17% on Wednesday. At the time of writing on Thursday, it stabilizes at around $579.

If BNB continues its recovery, it could rally to test its previously broken daily level at $612.50. A successful close above this level could extend an additional rally to retest its March 25 high of $644.88.

The Relative Strength Index (RSI) on the daily chart reads 44 and points upward toward its neutral level of 50, indicating fading bearish momentum. The RSI must move above its neutral level of 50 for the bullish momentum to be sustained.

BNB/USDT daily chart

BNB/USDT daily chart

If BNB faces a correction, it could decline to retest its key support level of the 61.8% Fibonacci retracement at $550.44.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin drops below $110K ahead of $22B options expiry; altcoins tumbleBitcoin fell below the $110,000 mark on Friday, heading for a steep weekly loss as nearly $22 billion in cryptocurrency options were set to expire. The drop also comes as traders await key U.S. inflation data that could influence the Federal Reserve’s policy outlook.
Author  Mitrade
Sept 26, Fri
Bitcoin fell below the $110,000 mark on Friday, heading for a steep weekly loss as nearly $22 billion in cryptocurrency options were set to expire. The drop also comes as traders await key U.S. inflation data that could influence the Federal Reserve’s policy outlook.
placeholder
Tesla set to beat Q3 delivery estimates on robust U.S. and China demand, says RBCTesla (NASDAQ: TSLA) is on track to exceed market expectations for third-quarter deliveries, driven by stronger sales momentum in both the United States and China, according to RBC Capital Markets. The firm projects 456,000 vehicle deliveries for Q3, compared with consensus forecasts of 440,000 (Visible Alpha) and 448,000 (FactSet).
Author  Mitrade
Sept 26, Fri
Tesla (NASDAQ: TSLA) is on track to exceed market expectations for third-quarter deliveries, driven by stronger sales momentum in both the United States and China, according to RBC Capital Markets. The firm projects 456,000 vehicle deliveries for Q3, compared with consensus forecasts of 440,000 (Visible Alpha) and 448,000 (FactSet).
placeholder
Dollar Weakens and Stocks Stall as Gold Rises Ahead of Fed DecisionOn Wednesday, global markets saw the dollar weaken, shares dip slightly, and gold rise to new highs as investors prepared for the Federal Reserve’s anticipated interest rate cut later in the day.
Author  Mitrade
Sept 17, Wed
On Wednesday, global markets saw the dollar weaken, shares dip slightly, and gold rise to new highs as investors prepared for the Federal Reserve’s anticipated interest rate cut later in the day.
placeholder
Key Challenges Ahead for US-China TikTok Ownership DealA newly announced framework agreement between the United States and China aims to shift TikTok’s ownership to U.S. control, raising numerous questions and challenges.
Author  Mitrade
Sept 17, Wed
A newly announced framework agreement between the United States and China aims to shift TikTok’s ownership to U.S. control, raising numerous questions and challenges.
placeholder
Oil Prices Rise Following Attacks on Russian Energy Infrastructure Oil prices climbed further on Monday as markets reacted to Ukrainian drone strikes targeting Russian refinery infrastructure, raising concerns over potential disruptions to Russia’s crude and fuel exports.
Author  Mitrade
Sept 15, Mon
Oil prices climbed further on Monday as markets reacted to Ukrainian drone strikes targeting Russian refinery infrastructure, raising concerns over potential disruptions to Russia’s crude and fuel exports.
Related Instrument
goTop
quote