BNB Market Cap Soars: A Remarkable Ascent to Third-Largest Crypto Asset

The cryptocurrency landscape recently witnessed a significant shift. BNB market cap has surged, propelling it past XRP to claim the coveted spot as the third-largest digital asset. This remarkable ascent has captivated the crypto community, prompting discussions about its underlying causes and future implications. Investors and analysts alike are now closely scrutinizing the factors driving BNB’s impressive growth.

BNB’s Historic Surge and Market Impact

BNB, the native cryptocurrency of the BNB Chain, achieved a new milestone. It surpassed Ripple-backed XRP in market capitalization on Tuesday, October 7, 2025. This move positions BNB firmly behind only Bitcoin (BTC) and Ether (ETH).

At the time of reporting, BNB price traded at $1,326. This represented a nearly 30% increase over the past seven days. Its market capitalization reached an impressive $182 billion, according to CoinGecko data. This significant growth stands out, especially when compared to the broader market trends. The community is actively discussing the reasons for this exceptional performance.

This breakthrough also coincides with increased adoption of BNB in various regions. For example, Kazakhstan launched a government-backed BNB fund. Such developments highlight growing institutional interest. However, some market observers have expressed concerns. They point to potential price manipulation underlying this sharp rise. These concerns are relative to other major cryptocurrencies.

Key Milestones for BNB:

• BNB broke above $1,100 for the first time last Friday.
• It officially overtook XRP as the third-largest crypto asset by market cap on Tuesday.
• BNB’s market capitalization surged by $40 billion in just seven days.

Understanding the Cryptocurrency Rally Dynamics

While a broader cryptocurrency rally has been underway, BNB’s growth has been particularly pronounced. Bitcoin’s market capitalization, for instance, climbed about 5% since October 1. Ether, the second-largest cryptocurrency, saw an 8.4% increase in market value during the same period. In stark contrast, BNB’s market cap soared by approximately 28% in only seven days.

This rapid expansion is noteworthy. Earlier this year, it took BNB over two months to add a similar amount to its market cap. At that time, its value hovered around $100 billion in mid-July. This level was roughly consistent with its valuation at the start of 2025. The current surge demonstrates an accelerated pace of growth. Consequently, it has drawn considerable attention from market participants.

The total crypto market capitalization increased by only 5.5% since October 1. Bitcoin and Ether have been gradually losing dominance. This context further emphasizes BNB’s outsized gains. Such a divergence often signals unique drivers behind a specific asset’s performance. Therefore, understanding these drivers becomes crucial for investors.

Community Questions and Allegations Against Binance

BNB’s extraordinary gains have certainly ignited controversy across social media platforms. Some commentators speculate about possible market manipulation. They point to the token’s rapid rise as evidence. On Reddit, members of the Solana (SOL) community questioned BNB’s utility. They compared it to tokens like SOL. Several commentators quickly suggested potential price manipulation.

One top-voted comment stated, “BNB is essentially like the FTX token. Can’t wait till it gets called out for the price manipulation with evidence. It’s gonna be glorious.” Such sentiments highlight deep-seated skepticism within parts of the crypto community. These allegations are not new in the volatile world of digital assets. However, they gain traction during periods of extreme price movements.

Manipulation allegations also circulated on X (formerly Twitter). DeFiTracer accused Binance of “buying millions of BNB to liquidate shorts.” This suggests the exchange may actively drive price movements for BNB. Such claims, if substantiated, would have significant implications. They could impact market trust and regulatory scrutiny. However, Binance has not yet commented on these specific allegations.

Concerns Raised by the Community:

• Speculation about market manipulation due to rapid price increase.
• Questions regarding BNB’s utility compared to other Layer-1 tokens.
• Accusations against Binance for potentially influencing BNB’s price.

The Role of CZ and BNB Chain’s Ecosystem

Despite mounting speculation on social media, Binance and its top executives have remained silent on the rumors. Changpeng “CZ” Zhao, Binance’s founder, posted a simple message on X on Tuesday: “Keep building on BNB Chain.” This message subtly encourages continued development. It also deflects direct engagement with the manipulation claims. The official BNB Chain account further reposted analysis by Momin Saqib, a BNB-focused crypto enthusiast.

Saqib highlighted BNB’s strong performance. He noted, “While the broader industry feels like it’s still waiting for direction, BNB has quietly been putting up the strongest numbers in the industry.” He referred to BNB Chain’s 60 million monthly active addresses. He also mentioned new record highs for BNB. These metrics suggest organic growth and adoption. However, they do not fully address the concerns about the speed of the recent price surge.

Previous reports suggested that CZ held 64% of BNB’s circulating supply as of June 2024. With BNB’s market cap reaching $182 billion, CZ could personally hold as much as $116 billion in the crypto asset. This significant concentration of holdings fuels some of the manipulation theories. It implies a substantial ability to influence the market. Nevertheless, such holdings are common among founders of large crypto projects. The exact impact on BNB price movements remains a subject of intense debate.

The Future Outlook for BNB and XRP

The flipping of XRP by BNB marks a notable moment in crypto history. It underscores the dynamic nature of market rankings. XRP has long held a prominent position. Its recent legal battles with the SEC have undoubtedly impacted its growth trajectory. While XRP maintains a strong community and utility, BNB’s ecosystem has expanded rapidly. This includes decentralized applications (dApps), NFTs, and various DeFi protocols.

BNB Chain’s focus on scalability and lower transaction fees has attracted a large user base. This technical advantage often translates into increased demand for the native token. Furthermore, Binance’s vast user base and continuous development efforts provide a strong foundation for BNB. The exchange integrates BNB across its products and services. This creates inherent utility and demand for the token.

Looking ahead, the competition between major altcoins will intensify. Market capitalization rankings are not static. They reflect shifts in technology, adoption, and investor sentiment. While BNB celebrates its new position, it must navigate scrutiny and maintain its growth. XRP, on the other hand, aims for renewed momentum. Its regulatory clarity could unlock new growth avenues. The broader cryptocurrency rally will likely continue to reshape the top asset rankings.

Factors Influencing Future Performance:

• BNB Chain’s continued ecosystem development and user adoption.
• Regulatory developments impacting both BNB and XRP.
• Overall market sentiment and Bitcoin’s price movements.
• Response to market manipulation allegations and transparency from Binance.

Ultimately, the crypto market remains highly speculative. Investors must conduct thorough research. They should also consider their risk tolerance. The recent surge of BNB offers a compelling case study. It highlights rapid shifts in market dominance. This ongoing narrative will shape the future of digital finance.