BNB (BNB), the native token of BNB Chain, continues its impressive recovery streak for the third consecutive week with nearly 10% weekly gains. The surge to approximately $585 on Aug. 22 is fueled by factors such as Binance's compliance team expansion, anticipation of US interest rate cuts, and market-moving developments. Binance's decision to strengthen its compliance team aims to enhance regulatory efforts and operational stability, attracting more users and institutional investors. The rally also aligns with investors anticipating a dovish shift in US monetary policy, leading to a rise in BNB's price. Additionally, short liquidations in the futures market have contributed to the acceleration of BNB's price rise. Technical analysis suggests a potential breakdown point at $586, with a target of $480 in August if the price falls below. Readers are advised to conduct their own research before making investment decisions. Read more AI-generated news on: https://app.chaingpt.org/news