BNB Tops $1,000 as Binance-DOJ Talks and CZ Speculation Drive Rally
BNB, the native token of the BNB Chain and widely used for Binance fee discounts, surged past $1,000 for the first time, overtaking Solana to reclaim the fifth-largest cryptocurrency spot by market capitalization.
The token rose 4.5% over 24 hours, climbing from $956.80 to an all-time high of $1,004 and pushing its market cap near $140 billion, according to CoinDesk Research data.
The rally appears fueled by renewed investor confidence amid reports that Binance is negotiating with the U.S. Department of Justice (DOJ) to remove a key compliance requirement from its $4.3 billion 2023 settlement. Since that settlement, Binance has operated under a court-appointed monitor for anti-money transmitting violations. If finalized, the deal could streamline Binance’s internal reporting obligations, as seen with other companies released from court oversight.
Speculation about the possible return of co-founder Changpeng Zhao, who stepped down as part of the DOJ settlement, has also supported buying momentum, though no official confirmation has been made.
The broader crypto market has also moved higher following the Federal Reserve’s 25-basis-point rate cut, with the CoinDesk 20 Index up roughly 3% over 24 hours.
Technical Overview
BNB’s surge accelerated after news of the Binance-DOJ negotiations emerged. The token traded near $956 in the morning, then jumped to $994 in just over an hour, accompanied by a surge in trading volume.
Support held between $983 and $988, while resistance around $995 initially slowed gains. A final breakout pushed BNB past the psychological $1,000 barrier, peaking at $1,004.28 during a six-minute spike backed by trading volume eight times the hourly average.
Current resistance is forming near $1,005, with support stabilizing just below $1,000. BNB has since settled around $998.
