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BNB Price Hit 90-Day High Amid $4B Binance-US DOJ Settlement Negotiations

BNB price soars 6% amid Binance's potential $4 billion settlement with US Justice Dept, signaling market optimism and influencing Bitcoin.
BNB Price Hit 90-Day High Amid $4B Binance-US DOJ Settlement Negotiations

BNB, the native token of Binance, experienced a 5.5% surge to $264.4 following news of potential settlement talks between Binance Holdings Ltd. and the US Justice Department. This uptick in value, recording a 3-month high, reflects market optimism as Binance potentially moves towards resolving longstanding regulatory challenges.

The token continues to hold strong despite crypto liquidations by traders. BNB price rallied 21% in a month.

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Binance and the US Justice Department Settlement

Attributable to the surge is the Justice Department’s demand for over $4 billion from Binance in a proposed deal as reported by Coingape. This proposal is part of a comprehensive investigation into alleged money laundering violations, bank fraud, and sanctions breaches. Additionally, there’s a possibility that Binance’s founder, Changpeng Zhao, might face criminal charges in the United States, pending the agreement’s finalization. These negotiations are pivotal in shaping Binance’s regulatory landscape.

BNB/USD 3-month price chart (CoinStats)

Consequently, this news has not only buoyed BNB price but also positively impacted Bitcoin, which also saw a rise, peaking at $37,768 with a 2.1% gain. Shiliang Tang, co-founder of Arbelos Markets, views this as a bullish development. He notes that it reduces the overarching market uncertainty and avoids immediate, disorderly market impacts. This sentiment is shared broadly across the crypto trading community, signaling a collective sigh of relief.

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BNB/USD Technical Analysis

The Relative Strength Index (RSI) of 64.80, above its signal line, indicates that the bullish momentum in BNB is robust and likely to continue. The rising trade volume, which means high market involvement and trust in the BNB’s upward direction, reinforces this trend. If the RSI rating maintains above its signal line and trading volume increases, it might imply that BNB has further upward potential.

BNB/USD price chart (tradingview)

Furthermore, the stochastic RSI rating of 25.36 and rising indicates that the bullish momentum in BNB is gaining stronger. This move suggests that buyers are rapidly entering the market, pushing prices. If the stochastic RSI rises and holds above 50, it indicates a possible breakout for BNB, enticing additional investors and driving the price higher.

Read Also: AI Giant NVIDIA Openly Woos OpenAI Staff as Leadership Saga Rages On

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Kelvin Munene Murithi

Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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