It is not every day that an exchange lists the token of a competitor exchange. That’s because it is equivalent to promoting a competitor’s business. However, Bithumb, one of the largest exchanges in South Korea, has listed Binance coin.
In a notice to its users, Bithumb has announced that Binance coin will start trading against KRW/BTC. The exchange also announced that deposits will be open from 5 p.m. Korean Time today. Withdrawals will be open from 7:30 p.m. Bithumb has also announced that BNB trading will be available on its web platform, API’s, and mobile platforms.
Since the news, Binance Coin has not moved much in price. It is currently trading at $380.01 and is up by around 4 percent at the time of writing. This is in tandem with the rest of the market.
The market has been trading sideways for the last two days, after a pump that saw it recover most of last week’s losses. However, it is clear that Binance coin is on the crisp of a breakout from its price action.
It has been trading in a bullish channel for the last few days. BNB has been making higher lows and is now trading close to a key pivot point at $383.86. A push through this level could see Binance coin test new highs above $400. Volumes are rising, too, an indicator that bulls are taking charge.
Binance coin is the 4th largest cryptocurrency by market capitalization. It has a market capitalization of $58,805,401,427. Volumes in the day stand at $4,421,361,040.