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BNB, the native token of BNB Chain and Binance’s ecosystem, surged past the $1,000 mark for the first time, reaching an all-time high of $1,004. The token rose 4.5% in the last 24 hours, lifting its market capitalization close to $140 billion and overtaking Solana to reclaim the fifth spot among the largest cryptocurrencies. The broader crypto market also showed strength, with the CoinDesk 20 Index gaining around 3% following the U.S. Federal Reserve’s anticipated 25-basis-point interest rate cut.
Momentum for BNB was fueled by reports that Binance is negotiating with the U.S. Department of Justice to end a key compliance measure from its $4.3 billion settlement in 2023. The exchange has been under the oversight of a court-appointed monitor since that deal. If finalized, the agreement would shift Binance toward stricter internal reporting requirements, a model that has previously helped similar firms move past compliance restrictions.
Traders also speculate that Binance co-founder Changpeng Zhao could make a return, despite no official confirmation. The possibility, combined with heightened trading volumes, drove BNB’s rapid climb, with prices leaping nearly $40 in just over an hour before breaking the psychological $1,000 barrier. New resistance is forming near $1,005, while support has stabilized just below $1,000.
