BNB Sees Upward Momentum as SEC Lawsuit Dropped, On-Chain Activity Soars
Binance’s BNB token posted modest gains on Tuesday, buoyed by the U.S. Securities and Exchange Commission’s (SEC) decision to dismiss its prolonged legal case against the exchange. The resolution of the regulatory overhang, paired with robust on-chain metrics, helped spark renewed investor interest.
BNB rose from $650.28 to a high of $673.70 — a 3.6% intraday jump — before slipping back slightly to hover near the $665 mark as the market digested the news.
Adding to the momentum was Binance’s partial reintroduction of U.S. dollar deposit functionality, including ACH bank transfers, signaling a reactivation of some key fiat services on its U.S. platform.
The legal development arrived against a backdrop of broader financial uncertainty, including shifting global trade policies and ongoing macroeconomic volatility, providing further justification for BNB’s strength amid risk-off sentiment.
On-chain activity has also strengthened BNB’s position. BNB Chain recorded over $14 billion in daily decentralized exchange (DEX) trading volume, surpassing the combined volumes of Ethereum and Solana. The figures underscore BNB Chain’s dominant role in crypto market infrastructure despite regulatory pressures.
Technical View
- BNB’s price action formed an ascending channel, briefly peaking at $673.70 before settling above key psychological support near $665.
- CoinDesk Research’s TA models identified signs of accumulation, with buyer demand strengthening on dips.
- A notable surge in volume around 01:00 and renewed buying interest near $665.32 acted as a stabilizing force for the asset.
- If current support levels hold, analysts suggest the market could be in the early stages of a more sustained bullish trend, driven in part by the removal of regulatory uncertainty and rising user activity on BNB Chain.
