BNB price gains 3% amid OKX listing

BNB price gains 3% amid OKX listing

OKX exchange has announced it will list BNB, the native cryptocurrency of rival Binance. BNB price rose 3% in the last 24 hours.

OKX, a renowned crypto and derivative exchange based in Seychelles, announced the listing of BNB (Binance coin), the utility token of its rival Binance.

BNB deposits to OKX opened a few hours ago (1:00 PM UTC). BNB/USDT and BNB/USDC pairs will open on Dec. 21 at 3:00 AM UTC.

The listing will open up BNB to a larger crypto audience on the platform, which claims to house more than 20 million users across 100 countries.

BNB price on the rise amid the news

According to CoinMarketCap, BNB gained 3% in price in 24 hours. At press time, the coin was trading at $250.42. Its price is still recovering from the drop BNB suffered amid the recent Binance PoR turmoil.

BNB price gains 3% amid OKX listing - 1
BNB/USD: 1-day chart. Source: CoinMarketCap

Musk and OKX on Twitter

The listing of BNB comes just after controversies arose when Elon Musk followed OKX’s business Twitter account last week. Musk’s move to follow OKX came moments after the exchange announced a list of a popular meme cryptocurrency known as FLOKI. 

The billionaire is well-known in the crypto market for injecting volatility into small crypto projects through metaphoric tweets. For instance, Elon announced the name of his Shiba Inu pet dog Floki. His crypto audience reacted, causing a massive wave of dog-named meme coins, FLOKI among them.

His move to follow OKX does not give much reason. However, it seems to be a part of his marketing campaign to entice more buyers to flock in and purchase the meme coin from the platform. Elon currently has over 122 million followers on Twitter and only follows 156, including Neural Link, Dogecoin, Tesla, and SpaceX.

Musk only follows OKX among all the exchanges. He neither follows Binance and any of its affiliates nor CZ, the platform’s CEO, who is an active Twitter user. This is ironic because Binance’s leadership contributed $500 million to reinforce his $44 billion Twitter stake purchase two months ago.

The listing of BNB on OKX puts the cryptocurrency among the few on the watchlists of many day traders in the crypto space following the bearish market that is currently devouring crypto prices.

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Wayne Jones

Wayne is an all-rounded cryptocurrency writer who has written for several publications in the fintech industry. Having graduated from the University of Essex Colchester, he developed a passion for blockchain technology and has been curious about how the blockchain can modify the traditional financial industry.