Coinbase has added BNB, the native token of its rival Binance, to its listing roadmap, signaling a shift following criticism on its standards. The token saw an immediate 2% pump in response, reflecting traders' enthusiasm and strong interest in this strategic announcement.
The announcement from Coinbase Markets comes less than ten days after Jeff Dorman, CIO of Arca fund, publicly denounced glaring inconsistencies in the platform’s listing policy. Dorman highlighted that Coinbase was listing “some of the absolute worst assets” while systematically ignoring high-performing tokens from competing platforms like Binance coin. According to him, the exchange remained caught between two contradictory strategies: that of an open marketplace and that of an ultra-selective platform.
The pressure intensified when Jesse Pollak, head of the Base network at Coinbase, stated that “exchange listings should be at 0%.” This was an indirect comment on the controversy between Binance and Limitless Labs. The company, backed by Coinbase Ventures, had accused Binance of demanding 8% of the total supply of its token in exchange for a potential listing. The crypto community quickly turned this argument against Coinbase. Why not list BNB if transparency and fairness are truly priorities?
Adding BNB to Coinbase’s roadmap doesn’t guarantee an immediate listing. The exchange specified that trading will only begin once “market-maker support and sufficient technical infrastructure” are in place. This wording leaves considerable room for maneuver. Nevertheless, it reflects a clear intention to open up to Binance’s flagship asset.
Coinbase simultaneously unveiled “The Blue Carpet,” a suite of tools aimed at making its listing process more accessible and transparent for asset issuers. This initiative offers direct access to the listings team, customizable asset pages on the centralized exchange and retail DEX, as well as discounts on services such as MiCA whitepaper support.
The exchange emphasizes a crucial point: Listings and applications remain completely free. Coinbase thus distinguishes itself from the opaque practices often suspected in the industry, where listing fees can reach considerable amounts. The platform claims that its evaluation criteria are based on legal, compliance, and technical aspects, rather than on market capitalization or a project’s popularity.
It remains to be seen whether this displayed transparency will translate into coherent decisions. BNB, the third-largest cryptocurrency by market cap, is already trading on major platforms such as WEEX, Bybit, Bitget, or LBank. Its prolonged absence from Coinbase had fueled suspicions of a listing policy motivated by competitive considerations rather than objective criteria.
BNB briefly reached $1,175 following the announcement before stabilizing. This modest movement reflects more of a market validation than a true breakout. Yet, the token demonstrates remarkable strength: It recently recorded a new ATH at $1,370, resisting a wave of massive liquidations totaling $19 billion that shook the entire crypto market.
On-chain data from BNB Chain shows an explosion in activity with more than 500 million transactions processed in the last 30 days. That’s a 151% increase compared to the previous month. This activity is largely driven by the memecoin ecosystem on Binance, which is attracting an increasing number of retail traders. Binance’s regular BNB buyback model and its growing utility in the ecosystem strengthen the confidence of both institutional and retail investors.
For Coinbase, this decision represents a major strategic bet. Listing its direct rival’s token amounts to acknowledging Binance’s dominance in the global crypto ecosystem. But it’s also an opportunity to capture trading volumes from one of the market’s most liquid assets, while meeting the expectations of a user base that demands more choices and less paternalism in listings.
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