BNB Reaches $1,000 High Amid Binance DOJ Deal Talks and Market Rally

BNB token surpassed $1,000 for the first time, marking a 4.5% increase in 24 hours, with its market cap nearing $140 billion.
This rise positions BNB as the fifth-largest cryptocurrency, overtaking Solana.
The surge is linked to Binance's talks with the U.S. DOJ to end a compliance monitor requirement from a 2023 settlement.
Binance has been under a court-appointed monitor following a $4.3 billion settlement over anti-money transmitting violations.
Speculation on social media hints at the potential return of co-founder Changpeng Zhao, though no official confirmation exists.
The wider crypto market saw gains partially due to a 25 bps interest rate cut by the U.S. Federal Reserve.

Technical Analysis Overview

BNB's price steadily increased after news of the Binance-DOJ deal, peaking at $1,004 from an initial $956.
Trading volume surged, especially during a spike where prices jumped from $961.41 to $994.49 in just over an hour.
Resistance was tested at $995 before breaking above $1,000, with a sharp gain occurring within six minutes.
New resistance has emerged near $1,005, with support stabilizing below $1,000. Currently, the price has settled around $998.