BNB market cap rises $38 billion

Binance’s native cryptocurrency, BNB, has overtaken Ripple’s XRP to become the third-largest digital asset by market capitalisation, reaching about $182 billion.

BNB’s price climbed to over $1,324, nearly a 30% increase in just one week, according to CoinGecko data.

This growth outpaces gains made by Bitcoin and Ether in the same period, with Bitcoin increasing about 5% and Ether rising 8.4%.

Since October 1, BNB’s market cap has grown by approximately $40 billion, compared to a total crypto market increase of just 5.5%.

The recent surge aligns with increased adoption, such as a government-backed BNB fund launched in Kazakhstan, but some market participants have raised concerns about possible price manipulation.

Discussions on social media platforms like Reddit and X have questioned the legitimacy of BNB’s rapid rise.

“BNB is essentially like the FTX token. Can’t wait till it gets called out for the price manipulation with evidence,” one Reddit commented, comparing BNB to the FTX token, anticipating future exposure of price manipulation: 

DeFiTracer on X suggested Binance may be buying BNB to liquidate short positions, potentially influencing price movements.

Changpeng Zhao, Binance’s CEO known as CZ, has not addressed these claims publicly but encouraged continued development on BNB Chain via his social media.

“While the broader industry feels like it’s still waiting for direction, BNB has quietly been putting up the strongest numbers in the industry," crypto analyst Momin Saqib noted, highlighting BNB Chain’s 60 million monthly active addresses and new record highs.

Reports from June 2024 indicated that CZ could personally hold around 64% of BNB’s circulating supply, which may amount to about $116 billion at current valuations.

BNB’s rise has shifted the cryptocurrency rankings, positioning it behind Bitcoin and Ether and ahead of XRP and USDT as of early October 2025.

At the time of reporting, the BNB price was $1,323.53.