The price of Binance Coin (BNB) saw a 4% increase on Thursday but then faced a decline. This growth coincided with the resumption of trading at BinanceUS’s US branch after a two-year hiatus due to regulatory issues. BNB’s strong performance in mid-February 2025 was influenced by speculations about two new meme coins, including Broccoli and TST tokens mistakenly attributed to Binance’s former CEO, Changpeng Zhao. Despite Zhao’s quick denial and warnings to users, these rumors led to a demand surge and an 18% growth in this cryptocurrency from February 5th. On February 19th, the Binance Coin price reached $650, indicating an 18% growth in the past 14 days. The increased investor confidence in Binance, especially in the US, had a positive impact on the price. Binance US has re-enabled fiat currency deposits and withdrawals after two years, offering fee-free bank transfers to US users. These features were halted following the SEC’s complaint against Binance and Zhao in June 2023 for alleged securities law violations. On February 13th, a US judge set a 60-day deadline for Binance to engage with the newly formed SEC cryptocurrency group. This temporary suspension alleviated market concerns and provided a greater opportunity for Binance’s return to the US market. If Binance successfully revives full operations, demand for Binance Coin is expected to increase significantly. Currently, Binance Coin is trading at $649.95. The price chart indicates that this cryptocurrency is in a consolidation range, with $650 acting as a key resistance level. To continue the upward trend towards $700, breaking through the $650 to $660 range is essential. Technical indicators like MACD suggest a continuation of the uptrend, but failure to sustain it could lead to price corrections. If the $660 resistance is breached, Binance Coin could grow to $700. However, if this level holds, there is a possibility of price dropping to $576. Overall, with increased trading volume, the general trend favors an upward breakout, but sustained buying pressure to surpass key resistances is crucial. On the real-time digital currency price page, you can monitor the prices of all tokens and cryptocurrencies live and up-to-date.
