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Highlights
- Binance.US resumes deposits and withdrawals for U.S. residents, boosting market sentiment.
- BNB price surges 4% to reclaim the $650 level on Wednesday, extending its 14-day gains to 18%.
- Technical indicators suggest further upside, with resistance at $660 and a potential breakout toward $700.
Binance Coin (BNB) price rose 4% on Wednesday, amid news that the Binance exchange’s North American subsidiary, BinanceUS has resumed trading functionality for US residents after a 2-year regulator-enforced hiatus.
BNB Price Reclaims $650 as Binance Resumes Deposits and Withdrawals for US Residents
Binance Coin (BNB) price has displayed strong performance in the second half of February 2025. Among key bullish catalysts were speculations surrounding a TST memecoin and another Broccoli token falsely linked to former Binance CEO Changpeng Zhao. Despite his prompt and clear disclaimer denouncing ties to memecoins and warning users against buying them, the media buzz still generated speculative demand for BNB, driving its 18% gains in the last two weeks, dating back to Feb. 5.
BNB price rose by another 4% to hit the $650 mark on Wednesday, Feb. 19, 2025, supported by rising market activity, extending its 14-day gains to 18%. Renewed investor confidence in Binance’s operations, particularly in the United States, has played a pivotal role in bolstering sentiment. With the latest regulatory developments suggesting a shift in enforcement priorities, the crypto exchange is poised for a potential resurgence in one of its most critical markets.
Notably, Binance.US has resumed fiat deposits and withdrawals for the first time in almost two years. Zero-fee ACH bank transfers for U.S. dollar deposits and withdrawals will roll out gradually to eligible customers from Wednesday. The platform’s fiat functionality had been suspended after the Securities and Exchange Commission (SEC) sued Binance, Binance.US, and co-founder Changpeng Zhao in June 2023 for alleged securities law violations. The lawsuit led to severe banking restrictions, forcing Binance.US to operate as a crypto-only exchange, which in turn eroded its market share despite offering access to over 160 cryptocurrencies.
While the SEC’s lawsuit against Binance remains ongoing, a U.S. judge recently granted a 60-day stay on Feb. 13, allowing both parties additional time to engage with the SEC’s newly formed crypto task force. The task force aims to provide a clearer regulatory framework for digital assets, potentially paving the way for Binance to re-establish full trading operations in the U.S. The case’s temporary suspension has also eased market concerns, allowing BNB investors to capitalize on the renewed momentum surrounding the exchange.
Beyond immediate price action, Binance’s ability to re-enter the U.S. market during a period of softening regulatory scrutiny could significantly impact BNB’s valuation. With major institutional investors increasingly exploring digital asset exposure, Binance’s return to a fully operational status may drive greater institutional inflows. If the exchange resumes its full suite of offerings, including derivatives trading and institutional-grade services, BNB could see increased demand as a utility token within Binance’s expansive ecosystem.
BNB staking rewards and trading fee discounts remain key incentives for users, and their accessibility to U.S. investors could act as a major catalyst for further price appreciation. Should Binance successfully navigate regulatory hurdles and restore full trading capabilities, BNB’s price could break through the $700 resistance level and potentially eye the $750 mark in the days ahead. With improved regulatory clarity and a renewed institutional focus on crypto, Binance’s return to the U.S. market might prove to be the linchpin for BNB’s next leg upward
BNB Price Forecast: Major Hurdles Ahead Before $700 Breakout
BNB price forecast remains cautiously bullish as it hovers around $651 after an 18% surge in the last two weeks. The daily chart shows price action trading within a consolidation range, capped by the $650 level, aligning with the Volume-Weighted Average Price (VWAP), which serves as a dynamic resistance.
While the uptrend remains intact, a decisive breakout beyond $650–$660 is necessary for BNB to sustain its bullish momentum toward $700.
The Keltner Channel (KC) upper boundary at $723 suggests that a breakout could face significant resistance before achieving the psychological $700 level. However, bullish traders may find confidence in the MACD indicator, which continues trending upwards in positive territory. The MACD line crossing above the signal line reflects ongoing upward momentum, but a failure to maintain this divergence could trigger profit-taking.
On the downside, if rejection at $660 strengthens, BNB risks revisiting support at $576, the lower KC boundary. With volume increasing, price action favors a bullish breakout, but sustained buying pressure is required to breach the $660 hurdle and validate the path toward $700.
Frequently Asked Questions (FAQs)
1. 1. Why did Binance resume operations in the U.S. after two years?
2. Can BNB price hit $700 soon?
3. How does Binance’s U.S. return affect BNB price?
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