BNB, the cryptocurrency associated with Binance, has experienced a significant surge of over 7% in the past 24 hours. This surge comes following reports that Binance is potentially reaching a $4 billion settlement with the United States Department of Justice (DOJ).
The price of BNB reached its highest point since June, reaching $266 on November 20th. The price increase was observed shortly after Bloomberg released news of the settlement, with the price initially rising to $262 before stabilizing and continuing to rise.
Among the top 20 cryptocurrencies by market capitalization, BNB stands as the largest gainer, with only Bitcoin and Wrapped BTC also experiencing positive growth over the same 24-hour period.
BNB has demonstrated a steady growth trend this week, with a 5.86% increase over the past seven days and a 21.67% rise over the past month. However, compared to other leading assets, BNB has seen a more modest 0.7% increase in the last year. This can be attributed to frequent regulatory scrutiny, particularly from U.S. regulators.
Despite the recent surge, BNB remains 61.4% below its all-time high of 686, which was achieved during the 2021 bull market when many digital assets, including Bitcoin, reached their peak prices.
