Robinhood Lists Binance Coin as Analyst Says BNB Could Rival Ethereum

Crypto exchange Robinhood has listed the Binance coin for spot trading for its U.S. customers. This comes as crypto analyst Master Kenobi predicts that BNB and Solana could surpass Ethereum and battle for the number-two spot among the largest cryptos by market cap.

Robinhood Lists BNB For Spot Trading

Robinhood data shows that the altcoin is now trading on the crypto exchange, with U.S. users able to buy it on the spot market. The token now joins the likes of Bitcoin, Ethereum, and Solana, which were already trading on the platform before now.

Meanwhile, the BNB listing comes just days after Robinhood listed CZ-backed ASTER and Plasmas XPL. Unlike ASTER and XPL, which jumped on the back of the listing, the Binance coin saw little movement following the Robinhood listing.

The Binance coin was trading around $1,077 amid the listing and remained unchanged following the revelation of the Robinhood listing. TradingView data shows that the altcoin is up almost 2% today, rebounding alongside the broader crypto market following yesterdays pullback.

Source: TradingView; BNB Daily Chart

Meanwhile, it is worth noting that Coinbase also plans to list BNB, as it has added the token to its listing roadmap. These listings come after exchanges were called out for not listing the Binance coin, despite it being the fourth-largest crypto by market cap.

Binance Coin Outperforms BTC, ETH, and SOL

The Binance coin has outperformed BTC, ETH, and SOL since the start of the year. CoinMarketCap data shows that BNB has recorded a year-to-date (YTD) gain of 53% while Bitcoin and Ethereum have both recorded YTD gains of 15% and Solana is down 2% YTD.

Source: CoinMarketCap

Notably, the Binance coin has multiple all-time highs (ATHs) this year, with the latest coming just over a week ago when it reached $1,372. BNBs recent outperformance was partly thanks to the BSC meme season, which drew liquidity to the BNB chain and increased the demand for the altcoin.

Meanwhile, the market appears to be pricing in the possibility that U.S. President Donald Trump will grant Binance co-founder Changpeng “CZ” Zhao a pardon, which is a positive for the BNB price. As CoinGape reported, the U.S. president is considering making this move, although nothing has been decided.