BNB has surged over 7% in the last 24 hours after reports of Binance being involved in a potential $4 billion settlement with the United States Department of Justice (DOJ).
The recent rise in the Binance-based token marks its highest point since June after the price moved to $266 on Nov 20. The price uptick could be seen barely four hours after Bloomberg broke the story as the price initially grew to $262 before trading sideways and making the subsequent rise.
A 7% growth makes the asset the biggest gainer among the top 20 cryptocurrencies by market capitalization and it was followed by Bitcoin and Wrapped BTC as the only coins in the 24-hour green zone.
BNB has maintained a stable growth this week posting a 5.86% growth in the last seven days and a 21.67% rise over the past month. The last year has seen the asset record a 0.7% rise, a figure lower than other top assets due to frequent onslaught by global regulators particularly in the United States.
The coin is still 61.4% adrift of its all-time high of 686 in the 2021 bull market which also saw several digital assets like Bitcoin soar to an all-time high.
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A Bloomberg report suggests the legal issues cryptocurrency exchange Binance has with the DOJ might be winding up as early as next month.