Robinhood listed BNB today, furthering its growing status as a crypto exchange. Despite this, neither the platform nor the token experienced significant price moves today.
Still, Coinbase put BNB on its roadmap last week, so that listing may have overshadowed today’s events. Either way, this development may become more important as BNB’s forward momentum picks up again.
Robinhood Lists BNB
Although BNB’s recent bullish period has turned wobbly in recent days, the token still has a lot going for it. The token’s on-chain activity is growing, its presence in meme coin trading is on the rise, Coinbase announced a BNB listing last week, and today, Robinhood has listed it too:
Robinhood’s BNB trading portal only opened this morning, and so far, it hasn’t had a big impact on price. The asset’s trading volume barely increased in the last 24 hours, rising a little over 1%. Its valuation has also remained stagnant throughout the morning, while Robinhood’s stock price has only declined since the market opened:
Robinhood Price Performance. Source: Google Finance
A New Web3 Leader?
Considering that Robinhood’s previous token listings have led the underlying assets to rally, today’s performance seems a little underwhelming. Nonetheless, it feels more than a little premature to call the BNB listing a dud for Robinhood.
The online trading platform has been intensifying its role as a crypto exchange for several months now, listing a slate of altcoins in August. This Web3 integration has attracted a lot of notoriety to the platform, even getting one Congressional crypto regulator to invest in the firm.
This new listing may have just taken place during a lull for BNB momentum, but that isn’t Robinhood’s fault. Even if this exposure doesn’t build community hype for the token or the trading platform, it might still be bullish in the long run. Robinhood is taking bold steps to be a new leader in Web3, and it took another one today.
No matter how community reactions lean in the next few hours, this listing could grow in significance in the coming weeks and months.
