Kraken Exchange, which previously did not list Binance Coin (BNB), has announced the commencement of deposits and withdrawals for this cryptocurrency, effective from April 22.
Why Did Kraken List BNB?
The listing of BNB on Kraken comes as a surprise to crypto traders. The exchange will trade BNB against U.S. dollars, euros, USDC, and USDT. However, geographical restrictions will be imposed where applicable.
Regulatory Changes and BNB's Growth
In the past few years, BNB has gained significant regulatory clarity, which may have influenced Kraken's decision. Under the administration of Donald Trump, Kraken has also expanded its services to compete in the market. The increasing use of BNB and the on-chain activity for BNB Chain have led to the burning of over 60 million tokens, worth over $34 billion.
BNB's Outlook in 2025
Since the beginning of 2025, BNB price has shown a strong correlation with Bitcoin price movement. With a market cap of about $86 billion and an average trading volume of approximately $526 million, BNB has demonstrated significant resilience amidst ongoing global economic changes.
The addition of BNB to Kraken Exchange may open new trading opportunities and increase liquidity for this cryptocurrency, which, in turn, could positively impact its future.
