BNB Surpasses $1,000 as Binance-DOJ Talks and CZ Speculation Drive Rally
BNB, the native token of the BNB Chain and widely used for fee discounts on Binance, has crossed $1,000 for the first time, overtaking Solana to reclaim its position as the fifth-largest cryptocurrency by market capitalization.
The token surged 4.5% over 24 hours, climbing from $956.80 to an all-time high of $1,004 and pushing its market cap close to $140 billion, according to CoinDesk Research’s technical data.
The rally appears fueled by renewed confidence amid reports that Binance is negotiating with the U.S. Department of Justice (DOJ) to remove a key compliance requirement stemming 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 simplify Binance’s internal reporting obligations, similar to other companies released from court oversight.
Investor speculation about the possible return of co-founder Changpeng Zhao, who stepped down as part of the DOJ settlement, has also contributed to buying momentum, though no official announcement has been made.
The broader crypto market has risen following the Federal Reserve’s 25-basis-point rate cut, with the CoinDesk 20 Index climbing roughly 3% over the past 24 hours.
Technical Overview
BNB’s rally accelerated after news of the Binance-DOJ negotiations surfaced. The token traded near $956 in the morning, then surged to $994 in just over an hour, accompanied by a spike in trading volume.
Support formed between $983 and $988, with resistance near $995 initially slowing gains. A final breakout pushed BNB past the psychological $1,000 barrier, peaking at $1,004.28 during a six-minute surge supported by trading volume eight times the hourly average.
New resistance is forming around $1,005, while support has stabilized just below $1,000. The token has since settled near $998.
