BNB, the native cryptocurrency of BNB Chain offering transaction fee discounts on Binance exchange, has achieved a historic milestone by surpassing $1,000 for the first time during a broader cryptocurrency market rally.
The digital asset gained 4.5% within 24 hours, advancing from $956.80 to establish a new all-time high of $1,004, elevating its market capitalization close to $140 billion based on CoinDesk Research's technical analysis metrics.
This upward movement enabled BNB to overtake Solana and regain its status as the fifth-largest cryptocurrency by market value.
The price surge appears driven by growing market confidence as Binance engages in advanced discussions with the U.S. Department of Justice to resolve remaining compliance obligations from its 2023 legal settlement.
Since 2023, Binance has operated under court-appointed supervision as part of its $4.3 billion agreement addressing anti-money laundering regulation violations.
A finalized agreement would mandate the exchange to implement enhanced internal reporting protocols, following precedents set by other companies that successfully concluded similar monitoring arrangements.
Social media speculation regarding potential leadership return of co-founder Changpeng Zhao, who resigned as part of the original settlement terms, appears to be generating additional positive momentum despite absence of official confirmation.
The broader digital asset market shows positive movement following the U.S. Federal Reserve's anticipated 25 basis point interest rate reduction, with the CoinDesk 20 Index gaining approximately 3% over the past 24 hours.
Technical Market Analysis
BNB's price acceleration initiated following initial reports about Binance-DOJ negotiations, with trading activity around $956 during morning sessions before gaining substantial momentum in evening trading.
The cryptocurrency demonstrated rapid appreciation from $961.41 to $994.49 within approximately one hour, accompanied by significantly elevated trading volumes.
Price stability maintained between $983 and $988 support levels, with repeated testing of $995 resistance before ultimate breakthrough above the psychologically significant $1,000 threshold.
Most dramatic price movement occurred within a six-minute interval where BNB advanced from $998.74 to $1,004.28, supported by trading volume eight times higher than typical hourly averages.
Current resistance forms near $1,005 while support consolidates just below $1,000, with BNB subsequently stabilizing around $998 price levels.
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