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Binance Coin (BNB) has overtaken XRP to become the third-largest digital asset by market value. This is a big change in the cryptocurrency rankings and shows how strong and growing the BNB Chain ecosystem is.
According to CoinMarketCap data, BNB’s market valuation rose above $180 billion on October 7, 2025, thanks to a 6% daily price gain to a record high of $1,295. This “flippening,” a word taken from Ethereum’s early battles for dominance, is the first time BNB has crossed this line.
XRP is now in fourth place, with a market cap of about $178 billion, down 0.6% to $2.98. The rise, which was driven by strong on-chain activity, strategic ecosystem expansions such as Aster, and broader market trends, shows how BNB has evolved from a utility token to a key part of DeFi and Web3 infrastructure.
Bitcoin and Ethereum remain at the top, but BNB’s milestone shows the altcoin market is growing. Utility-driven chains are beating older ones, but BNB’s new throne will be put to the test by its ability to stay stable in the face of turbulence.
BNB’s Record-Breaking Rally: it went from $1,214 to $1,295 in just a few days
The path of BNB has been nothing short of explosive. It broke its all-time high of $1,295 on October 7, just days after trading at $1,214. In 24 hours, it gained more than 6%, and in a week, it gained an amazing 28%. This pushed its market valuation to $180.21 billion, which was more than XRP’s $178.2 billion and even briefly flirted with Tether’s USDT at $177.5 billion. According to FX Leaders, BNB is up 130% this year, which is more than XRP’s 27% rise.
The flip wasn’t a one-time thing; BNB’s fully diluted value (FDV) went from $560 million before launch to more over $182 billion at its peak, which is a 32,000% increase in just a few months. The number of trades rose 22% to $2.83 billion a day, and the volume-to-market-cap ratio reached 6.04%, a sign of liquidity that rivals Ethereum’s highs. On X, the buzz was electric: @RoundtableSpace was amazed by BNB’s dominance on DEX Screener’s top 10, while @kyle_chasse said, “Q4 is INSANE!!!” during the flip. This change puts BNB below only BTC and ETH, with Solana and USDT behind it, as CryptoTicker pointed out.
Ecosystem Surge: BNB Chain has the most activity and TVL
The rise of BNB is closely tied to the rapid growth of the BNB Chain, which is now the most active blockchain in the world, with 4.2 million daily active addresses, according to TokenTerminal. With a total value locked (TVL) of $9 billion, it is in third place after Ethereum ($100B+) and Solana ($12B). The chain’s DeFi supremacy is clear, with a 570% TVL increase to $2.34 billion on Aster alone.
September’s volumes are likely to be higher than the monthly average of $9 billion. This is because gas prices are low (0.05 Gwei) and there are events like Alpha Points, Launchpool campaigns, and community wallet events.
One example of this trend is Aster, the perp DEX that changed its name from APX Finance: It makes $7.12 million a day, which is a lot more than Hyperliquid’s $2.79 million. It has 25% of the $1 trillion perp market. CZ complimented the “Binance-grade” liquidity of the 704 million ASTER airdrop, which included 300,000+ wallets and support for multiple chains (BNB, ETH, Solana, Arbitrum) and secret orders.
With 58 million monthly active users (MAUs) driving demand for BNB tokens, Binance’s Web3 push, which includes PancakeSwap integrations, has made BNB Chain a DeFi powerhouse.
Institutional adoption is also speeding up. Southeast Asian and Central Asian funds, notably Kazakhstan’s sovereign funds, are adding BNB to their portfolios because of its deflationary burns (180 million GT burned) and anticipation of a Fed rate decrease.
CZ’s Support and the Mood of the Market
Changpeng Zhao’s (CZ) tweet on September 17 said, “Well done!” Good beginning. “Keep building!”—with ASTER’s guidance, the fire spread, getting 14,000 likes and 2 million views. His June liquidity nod and September 28 joke about leverage “cracking him up” made the “CZ bump” even bigger, which has historically made coins like BNB go from $0.09 in 2017 to 10 times that. Someone on X termed it a “historic flip alert” and linked it to the return of CZ and the Chinese meme season.
The Fear & Greed Index is at 54.75 (neutral), which hides infrastructure stories. BNB’s 6.04% volume ratio shows how deep the liquidity is. Analysts are looking at $1,400 to $1,500 next, with support at $1,200. XRP’s $3 resistance is keeping it back.
Volatility calms excitement: BNB’s 25% weekly rise might lead to a 20% drop, while centralization criticisms (YZi Labs ties) continue. But some people say Q4 has “insane” potential, and BNB could flip ETH at $4,000. If TVL keeps going up and CZ’s shadow stays, this flip will last.
Conclusion
BNB’s rise to the #3 slot with a $180B cap marks the end of a great week, thanks to Aster’s DeFi surge, 4.2M DAUs, and CZ’s magic touch. BNB Chain’s multi-chain power is better than its competitors’, with weekly increases of 28% and a $9 billion TVL lead. However, there are still whispers of centralization. In the light of altseason, this milestone proves that utility is better. Keep an eye on $1,400 for the next chapter in Binance’s story.
