BNB Chain and MEXC announce partnership to fast-track listings and amplify exposure for new projects

• On Thursday, BNB’s price stabilizes around $577 after rebounding from a crucial support level the day before.
• The previous day, BNB Chain and MEXC announced a collaboration aimed at expediting listings, increasing global visibility, and promoting high-potential projects.
• This initiative supports BNB Chain’s $100 million Liquidity Incentive Program, which encourages exchanges to list tokens native to the BNB Chain, thereby improving ecosystem liquidity.

The price of Binance Coin (BNB) remains around $577 on Thursday following a bounce from its essential support level the day prior. On Wednesday, BNB Chain and the MEXC exchange revealed a partnership aimed at accelerating listings, enhancing global exposure, and backing promising projects. This effort corresponds with BNB Chain’s $100 million Liquidity Incentive Program, which incentivizes exchanges to list its native tokens, thereby boosting liquidity within the ecosystem.

BNB and MEXC Join Forces to Enhance Listings

This initiative aligns with BNB Chain’s $100 million Liquidity Incentive Program, which encourages exchanges to add native BNB Chain tokens to their offerings, thereby improving liquidity across the ecosystem.

This partnership reflects a promising outlook for BNB Chain. New projects will find it easier to list on MEXC, a prominent centralized exchange, thereby enhancing activity and adoption within the ecosystem, as well as potentially creating deflationary pressures on BNB’s supply, which could support its price.

BNB Price Outlook: Bounces from Significant Support stabilizes

decline and tested its significant support level at the 61.8% Fibonacci retracement (drawn from the low of $400 on August 5 to the high of $793.82 on December 4) at approximately $550.44, which aligns with an upward trendline established by connecting several lows since early August. However, it found support at this level and rebounded by 5.17% on Wednesday. As of writing on Thursday, BNB stabilizes around $579.

If BNB maintains its recovery, it may rise to retest its previously breached daily level at $612.50. A successful close above this mark could trigger a further rally to revisit its March 25 high of $644.88.

The Relative Strength Index (RSI) on the daily chart shows a reading of 44 and is trending upwards toward the neutral level of 50, suggesting a decrease in bearish momentum. The RSI needs to rise above its neutral level of 50 to sustain bullish momentum.

BNB/USDT daily chart

Should BNB undergo a correction, it might decline to retest its vital support at the 61.8% Fibonacci retracement level of $550.44.