Binance Coin (BNB) has surpassed both Tether (USDT) and XRP to become the world’s third-largest cryptocurrency by market capitalisation, following a strong fourth-quarter rally. According to CoinMarketCap, as of this writing, BNB has a market cap of $182 billion compared to Tether’s $177.9 billion and XRP’s $170.7 billion.
BNB’s performance has taken off in recent weeks, with the token putting on a 30% rally since the beginning of October. It has set four consecutive all-time highs, over the previous week when it reached $1,330 on Tuesday. The move comes after a sustained breakout from its multi-year range between $200 and $700 over which it had traded since 2021.
Analyst Ali Martinez previously suggested that a conversion of the $1,000 level down to a support zone could possibly create another rally of 30% to $1,300, a prediction which is now coming true. According to market analysts such as NekoZ and Crypto Patel, the market may continue rallying to as high as 1,500 to 2,000, assuming that the trend continues.
Corporate Treasuries Expand BNB Holdings
Institutional interest in BNB has surged in tandem with its price. Nasdaq-listed company CEA Industries said its BNB Digital Asset Treasury (DAT) holdings totalled $663 million in total assets, including 480,000 BNB tokens. The company aims to have 1% of the total token supply by the end of 2025.
CEA Industries CEO David Namdar said BNB’s record highs reinforce its growing credibility and scale throughout the market. According to the company, its average token acquisition price is about $860, and as of October 6, the holdings are worth more than $585 million.
The BNB ecosystem has also been strengthened with strategic integrations. BNB Chain recently supported the implementation of the data standard from Chainlink, which enables direct on-chain access to official U.S. Department of Commerce data.
XRP Faces Short-Term Setback
While the rise of BNB has changed the rankings of cryptocurrencies, XRP has fallen to fifth place. However, analysts are bullish on the structure of the XRP. Researcher Ardizor noted that XRP’s current configuration resembles the accumulation period of November 2024, which led to a decisive rally to multi-month highs.
He pointed out XRP’s chart and noted how the price had higher lows, was in a tightening consolidation, and volume was increasing, all signs of breakout momentum. A similar move could send the token to the $10 mark in the coming months.
Despite dropping below $2.90 for the first time in a while, XRP is still one of the best-performing assets since the US election. As Market commentator Zach Rector has noted, XRP has gained 488% since November 2024, outperforming Bitcoin, Ethereum, BNB, and Solana.
https://twitter.com/ZachRector7/status/1975574056687779973
Bitcoin increased by 83% over the same period, Ethereum jumped by 95%, BNB rose by 136%, and Solana increased by 45%. Despite the temporary fluctuations in its position in the top ten, XRP shows a lot of strength that underlines its investors and the continuing relevance in the space.
