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
OpenAI Introduces Lowest-Cost ChatGPT Subscription in India with UPI Payment OptionOn Tuesday, OpenAI introduced ChatGPT Go, its most affordable AI subscription tier, targeting the price-sensitive Indian market. Nick Turley, OpenAI’s Vice President and Head of ChatGPT, announced the launch via an X post, highlighting that users can pay through India’s Unified Payments Interface (UPI).
Author  Mitrade
Aug 19, Tue
On Tuesday, OpenAI introduced ChatGPT Go, its most affordable AI subscription tier, targeting the price-sensitive Indian market. Nick Turley, OpenAI’s Vice President and Head of ChatGPT, announced the launch via an X post, highlighting that users can pay through India’s Unified Payments Interface (UPI).
placeholder
Japanese Stocks Surge, Yen Weakens Amid PM Ishiba’s Resignation and Fiscal UncertaintyJapanese stocks rose and the yen weakened as Prime Minister Ishiba’s resignation heightened concerns over the country’s fiscal policy and interest rate outlook.
Author  Mitrade
Yesterday 01: 33
Japanese stocks rose and the yen weakened as Prime Minister Ishiba’s resignation heightened concerns over the country’s fiscal policy and interest rate outlook.
placeholder
Oil Prices Rise Following OPEC+ Decision to Slow Output Increases Starting in OctoberOil prices edged higher early Monday, recovering some ground lost last week, after OPEC+ agreed to moderate its pace of output increases starting in October amid concerns over weakening global demand.
Author  Mitrade
Yesterday 01: 48
Oil prices edged higher early Monday, recovering some ground lost last week, after OPEC+ agreed to moderate its pace of output increases starting in October amid concerns over weakening global demand.
placeholder
Dollar steadies before U.S. jobs data; euro pressured by French turmoilThe U.S. dollar edged higher Tuesday, stabilizing after a slide to seven-week lows as traders looked ahead to key labor and inflation data expected to lock in a Federal Reserve rate cut next week.
Author  Mitrade
7 hours ago
The U.S. dollar edged higher Tuesday, stabilizing after a slide to seven-week lows as traders looked ahead to key labor and inflation data expected to lock in a Federal Reserve rate cut next week.
placeholder
European stocks mixed; French political crisis, U.S. inflation in focusEuropean equities traded narrowly on Tuesday as investors weighed political turmoil in France against anticipation of key U.S. inflation data later this week.
Author  Mitrade
7 hours ago
European equities traded narrowly on Tuesday as investors weighed political turmoil in France against anticipation of key U.S. inflation data later this week.
Related Instrument
goTop
quote