BNB Jumps 4% as Traders Reposition on Optimism Around Binance’s Legal Progress
BNB rallied sharply on Thursday, gaining nearly 4% as optimism grew around Binance’s improving regulatory landscape and a spike in trading volumes across BNB Chain’s decentralized apps.
The token surged from $648.90 to an intraday high of $674.35 before pulling back slightly to settle near $669.00. The move follows reports that key regulatory hurdles facing Binance are easing, with several jurisdictions signaling a more open stance toward the exchange’s operations.
Analysts said the rebound was also driven by renewed activity in BNB-based decentralized finance protocols, which saw a 19% week-over-week increase in total value locked (TVL), according to DefiLlama.
Market participants noted that BNB is showing early signs of decoupling from broader crypto weakness, buoyed by confidence that legal risks are being priced out.
Technical Snapshot
- Support: $658.00
- Resistance: $676.00
- 24H Volume: +21% increase
- RSI: Near 63, suggesting building bullish momentum
About The Author
More Stories
BTC stays below $80,000 while January forecast contracts dodge liquidation-driven drop: Asia Morning Highlights
“Mind-blowing”: Bitcoin’s sharp drop over the weekend uncovers weaknesses in the latest crypto boom
The weekend drop suggests Bitcoin’s optimism for bulls—its ‘hopium’—might be fading fast.