BNB Hits $1,000 All-Time High as Binance Nears DOJ Deal, Rumors of CZ’s Return Grow
The post BNB Hits $1,000 All-Time High as Binance Nears DOJ Deal, Rumors of CZ’s Return Grow appeared on BitcoinEthereumNews.com. BNB, the token that powers the BNB Chain and can be used for fee discounts on leading exchange Binance, has crossed $1,000 for the first time ever amid a wider crypto market rise. The token jumped 4.5% over the last 24-hour period, climbing from $956.80 to a $1,004 all-time high and pushing its market cap to near $140 billion, according to CoinDesk Research’s technical analysis data model. That move edged BNB past Solana to reclaim its position as the fifth-largest cryptocurrency by market capitalization. The rally appears to reflect renewed confidence as Binance is reportedly in talks with the U.S. Department of Justice (DOJ) to put an end to a key compliance requirement from the exchange’s 2023 settlement. Binance has since 2023 been under a court-appointed monitor as part of its $4.3 billion settlement over anti-money transmitting violations. The deal, if finalized, would require the exchange to adopt a stricter internal reporting system, as was the case with similar companies that were released from court-appointed monitors. Some investors on social media are also speculating about the possible return of co-founder Changpeng Zhao, who stepped down as part of Binance’s DOJ settlement. While there is no official indication of his reentry into leadership, the narrative seems to be fueling momentum behind the token. The wider crypto market has edged up after the U.S. Federal Reserve cut interest rates by 25 bps yesterday, as anticipated. The CoinDesk 20 Index, which offers a weighted measured of the broader digital asset market, is around 3% in the last 24 hours. Technical Analysis Overview BNB’s upward push began steadily after reports of the Binance-DOJ deal surfaced, with the token trading around $956 in the morning before gathering pace in the evening hours. It jumped from $961.41 to $994.49 in little over an hour, in a…
The post BNB Hits $1,000 All-Time High as Binance Nears DOJ Deal, Rumors of CZ’s Return Grow appeared on BitcoinEthereumNews.com.
BNB, the token that powers the BNB Chain and can be used for fee discounts on leading exchange Binance, has crossed $1,000 for the first time ever amid a wider crypto market rise. The token jumped 4.5% over the last 24-hour period, climbing from $956.80 to a $1,004 all-time high and pushing its market cap to near $140 billion, according to CoinDesk Research’s technical analysis data model. That move edged BNB past Solana to reclaim its position as the fifth-largest cryptocurrency by market capitalization. The rally appears to reflect renewed confidence as Binance is reportedly in talks with the U.S. Department of Justice (DOJ) to put an end to a key compliance requirement from the exchange’s 2023 settlement. Binance has since 2023 been under a court-appointed monitor as part of its $4.3 billion settlement over anti-money transmitting violations. The deal, if finalized, would require the exchange to adopt a stricter internal reporting system, as was the case with similar companies that were released from court-appointed monitors. Some investors on social media are also speculating about the possible return of co-founder Changpeng Zhao, who stepped down as part of Binance’s DOJ settlement. While there is no official indication of his reentry into leadership, the narrative seems to be fueling momentum behind the token. The wider crypto market has edged up after the U.S. Federal Reserve cut interest rates by 25 bps yesterday, as anticipated. The CoinDesk 20 Index, which offers a weighted measured of the broader digital asset market, is around 3% in the last 24 hours. Technical Analysis Overview BNB’s upward push began steadily after reports of the Binance-DOJ deal surfaced, with the token trading around $956 in the morning before gathering pace in the evening hours. It jumped from $961.41 to $994.49 in little over an hour, in a…
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