BNB Price Breaks $591.27 as Kraken Listing April 22 Sparks Bullish Momentum

Binance Coin (BNB) is showing strong signs of a breakout after flipping the $590 resistance on Thursday. The price rally comes as the token gears up for a major listing on Kraken exchange, further extending its global reach. With BNB deposits already live and trading set to begin on April 22, investor sentiment has turned bullish. Meanwhile, former Binance CEO Changpeng Zhao (CZ) added to the hype, highlighting BNB’s memecoin-like reach across crypto platforms. As macro factors align and DeFi adoption rises, BNB’s price is poised for an exciting phase.

BNB Price Climbs as Kraken Listing Ignites Investor Optimism

BNB price surged 3% in 24 hours, climbing above $590 following Kraken’s announcement that it will support BNB deposits, with trading launching April 22 at 14:00 UTC. Four trading pairs will go live – BNB/EUR, BNB/USD, BNB/USDC, and BNB/USDT – enhancing accessibility for U.S. and European users.

Chart 1 – BNB Price Action, published on TradingView, April 17, 2025

Kraken’s move signals a pivotal shift for BNB, extending its footprint far beyond Binance. The expansion supports BNB’s evolution from a utility token into a more dynamic, cross-platform asset. The increased accessibility adds to the bullish sentiment, with volume indicators and bullish technicals signaling strong market support.

CZ Calls BNB a ‘Memecoin’ as DeFi Inflows and Technicals Align

Changpeng Zhao’s playful post calling BNB a “memecoin” went viral on Thursday. CZ’s comment, though tongue-in-cheek, underscores BNB’s increasing relevance across major exchanges. Despite stepping down in 2024, CZ remains influential in shaping narratives around BNB’s future.  “BNB is a memecoin”, CZ posted on X on Thursday, in response to BNB Chain’s official post on the announcement of the Kraken listing slated for April 22.

BNB trading will soon be live on @krakenfx!

You can now deposit $BNB on the exchange—and that’s just the beginning.

4 trading pairs are on the way on Apr 22 at 14:00 UTC, opening up new ways to trade & explore the BNB ecosystem:

BNB/EUR, BNB/USD, BNB/USDC, BNB/USDT

Stay…

— BNB Chain (@BNBCHAIN) April 17, 2025

Alongside the Kraken listing, BNB Chain is also witnessing renewed DeFi momentum. Since April 9, Total Value Locked (TVL) on BNB Chain has surged by $600 million, rising from $4.9B to $5.5B. The spike came after Trump repealed DeFi-related KYC laws, unleashing new liquidity across protocols offering real yield.

Meanwhile, macroeconomic tension continues. Trump has called for rate cuts after softer U.S. inflation data and jobless claims. He referenced the European Central Bank’s 7th consecutive rate cut, comparing Fed Chair Powell’s reluctance to global easing trends. This macro backdrop is driving investor interest in alternative assets like BNB.

Technically, Binance Coin price closed above $591.27, flipping the Chande Kroll Stop resistance into support. Volume surged to 317,060 BNB, nearly twice the average, confirming momentum. The Bear Bull Power (BBP) also turned positive at 2.62, the first bullish signal since March’s peak.

Binance Coin Price Outlook: Can Bulls Push Toward $650?

BNB’s next major resistance lies at $650, and with current price action supported by macro catalysts and technical confirmation, that target looks increasingly achievable. If bulls hold above $590, BNB may enter a sustained rally. However, $540.90 remains key support, and a break below could invalidate the bullish setup.

Final Take: Kraken Listing and DeFi Momentum Power BNB’s Breakout Attempt

The Kraken listing marks a pivotal moment for Binance Coin, transforming it from a Binance-exclusive token into a globally recognized asset. With growing DeFi traction, rising TVL, and positive macro sentiment, Binance Coin is now more than just an exchange utility. As it eyes the $600 breakout and beyond, BNB is riding a wave of renewed investor interest, technical strength, and market visibility. Whether or not bulls can take it to $650 in the coming weeks, the stage is set for BNB to play a bigger role in the evolving crypto market.