Binance's native token, BNB, defies regulatory hurdles, soaring to a two-year high of $489.50, marking a 62% increase in just 30 days and positioning itself as the third-largest cryptocurrency by market cap.

The remarkable surge of BNB, despite Binance's recent legal challenges, has fueled trader optimism, with many anticipating the token will soon breach the $500 threshold.

Concerns linger over the sustainability of BNB's rally, given the backdrop of legal issues faced by Binance and its founder, Changpeng “CZ” Zhao, including a plea deal over allegations of facilitating illicit fund transfers.

The settlement with the U.S. Commodity Futures Trading Commission (CFTC) and the implementation of governance reforms have alleviated some investor concerns, stabilising BNB's market position amidst regulatory scrutiny.

BNB's resilience and recovery to a significant market milestone underscore the complex interplay between regulatory actions and cryptocurrency valuations, highlighting the unpredictable nature of the crypto markets.