Kraken Finally Lists Binance Coin (BNB) Here’s What It Means for Crypto Traders
In a move that caught many crypto traders off guard, Kraken Exchange has finally announced support for Binance Coin (BNB) — a decision that has been long overdue in the eyes of the community. On Thursday, Kraken revealed that BNB deposits and withdrawals are now live ahead of the official listing date set for April 22.
BNB will be tradable on Kraken against several major pairs, including USD, EUR, USDC, and USDT. However, the exchange clarified that regional restrictions may apply depending on local regulations.
Mixed Reactions from the Crypto Community
The announcement stirred a range of responses across social media. Some users expressed disbelief that Kraken, one of the oldest and most reputable crypto exchanges, had taken this long to list BNB, currently the fifth-largest cryptocurrency by market capitalization. Interestingly, Binance co-founder Changpeng Zhao chimed in, calling BNB a “memecoin” in a tongue-in-cheek remark that left many amused.
Why Kraken Chose to List BNB Now
So, what changed? Why is Kraken listing BNB after all these years?
The decision seems strategic. Over the past few years, BNB has achieved greater regulatory clarity, particularly in the U.S. This aligns with Kraken’s broader expansion strategy, especially as the platform strengthens its foothold under regulatory frameworks and competition heats up in the crypto exchange space.
BNB adoption has also surged thanks to its utility on the Binance Smart Chain and broader Binance ecosystem. On-chain activity on the BNB Chain continues to grow, resulting in over 60 million BNB tokens burned to date, equivalent to more than $34 billion. This deflationary mechanism boosts its appeal among both investors and traders.
Market Outlook: What’s Next for BNB?
Since the start of 2025, BNB has mirrored Bitcoin’s price trends, showing a high degree of correlation with the broader crypto market. With a fully diluted market cap nearing $86 billion and a 24-hour trading volume hovering around $526 million, BNB remains a major player even amidst global market uncertainty.
Technically speaking, BNB is showing signs of a potential bullish reversal on the daily chart. Following the second inauguration of Donald Trump, BNB has held strong above the $520 support level. The presence of a bullish divergence in the Relative Strength Index (RSI) also suggests that momentum may be building for an upward move.
