BNB Surges Past XRP and USDT to Become Third-Largest Cryptocurrency by Market Cap

The crypto market is shifting fast, and BNB just made history again. After weeks of steady momentum, BNB has overtaken XRP and USDT, becoming the third-largest crypto asset globally by market capitalization.

According to CoinMarketCap, $BNB is trading above $1,300, up 7.8% in the last 24 hours, with a market cap now exceeding $180 billion.

The Binance ecosystem is once again proving its dominance in a market that’s growing more volatile by the day.

The surge came as the broader crypto market rallied following the U.S. government shutdown resolution, which sparked renewed investor confidence.

In the past 24 hours, the BNB Chain (BSC) ecosystem has led the charts across multiple on-chain metrics:

•  BNB surpassed XRP, securing the 3 spot among all cryptocurrencies.
•  BNB reached a record high above $1,300.
•  BSC led in daily fees with $2.48 million generated in 24 hours.
•  BSC also topped decentralized exchange (DEX) volume, hitting $4.14 billion in the same period.

These figures highlight how BSC’s growing network activity continues to drive real demand for $BNB, not just speculative trading.

https://twitter.com/CryptoRank_io/status/1975539411828793682?t=n89Pb0XaDxOli7_TvEsC3g&s=19

While BNB soared to $1,336, XRP slipped slightly to $2.978, down 4% over the same period.

That small decline was enough to push XRP down to fourth place, marking the first time since early 2022 that BNB has decisively outranked XRP by market cap.

This flip isn’t just about price, it’s about ecosystem strength.

BNB’s success reflects ongoing growth in the Binance Smart Chain, which remains one of the most active blockchain networks globally.

Data from BNB Chain Analytics shows consistent user and transaction growth throughout Q3 and into early Q4.

BSC continues to dominate daily transaction counts and active wallet metrics, hosting thousands of DeFi, GameFi, and RWA (real-world asset) projects.

The network’s low fees, high throughput, and developer-friendly tools make it the go-to chain for new Web3 projects, and that directly fuels BNB’s value.

When network activity rises, more BNB gets burned, reducing total supply and reinforcing the token’s deflationary nature.

Institutional traders and retail investors alike are eyeing BNB’s growing momentum.

After reclaiming its place among the top three cryptocurrencies, many see it as a long-term blue-chip asset alongside Bitcoin and Ethereum.

BNB’s steady rise contrasts with the mixed sentiment around XRP.

According to data from Santiment, XRP is experiencing its highest level of retail FUD (fear, uncertainty, and doubt) in six months, the last time being when the Trump tariff headlines triggered widespread market anxiety.

The report notes that bearish sentiment has outpaced bullish sentiment in two of the past three days.

Historically, such spikes in retail FUD have been contrarian indicators, often signaling potential rebounds as markets move opposite to retail emotion.

Liquidity and trading volume are two of the strongest indicators of market confidence, and right now, they’re flowing toward BNB.

Over the past week, Binance and its associated DeFi protocols have seen:

•  A steady uptick in spot and futures volume
•  Increased liquidity migration from competing ecosystems, including Solana and Polygon
•  Higher stablecoin velocity within BSC dApps and DEXs

This pattern mirrors trends seen during previous bull cycles, when network activity tends to consolidate around the ecosystems offering the most efficient on-chain trading and yield opportunities.

BNB’s strong fundamentals, combined with Binance’s continued global reach, are reinforcing its role as a market liquidity anchor.

The broader crypto market remains sensitive to macro headlines, from rate cuts and inflation data to geopolitical developments.

Yet, despite the uncertainty, BNB continues to climb, supported by consistent burn events, robust network metrics, and long-term investor accumulation.

Over the last quarter:

•  BNB has gained over 53%, outpacing both Bitcoin and Ethereum.
•  The BSC ecosystem has recorded double-digit growth in active addresses and daily DEX volume.
•  The latest auto-burn cycle removed millions of BNB tokens from circulation, tightening supply.

BNB’s resilience suggests it’s not just a speculative rally, it’s a reflection of genuine network value.

Despite losing its third-place ranking, XRP’s community remains one of the most active in crypto.

Analysts note that XRP’s current underperformance may be more about short-term sentiment than long-term fundamentals.

If retail bearishness continues, contrarian traders could see this as a buy signal, especially with broader market strength returning post-shutdown.

Still, for now, BNB clearly holds the upper hand, supported by real on-chain activity and an expanding ecosystem of DeFi protocols, infrastructure projects, and RWA initiatives.

If current momentum continues, BNB could be on track to challenge its previous all-time high near $1,400, a level last seen during the 2021 bull run.

Technical analysts are eyeing $1,350–$1,400 as the next resistance zone.

A clean breakout above could open room for a push toward $1,500, driven by momentum traders and institutional inflows.

Meanwhile, XRP may need to hold above $2.80 to avoid further downward pressure.

As always, investor attention will stay focused on ecosystem fundamentals, not just price moves, and BNB currently leads that conversation.

BNB’s rise past XRP and USDT isn’t just another ranking shuffle, it’s a sign of where the crypto market’s confidence lies.

While XRP faces short-term sentiment headwinds, BNB’s ecosystem strength, network utility, and consistent burn mechanics make it one of the most fundamentally solid assets in the space.

As the market recovers from recent volatility, BNB’s position as the third-largest cryptocurrency cements its role at the heart of the next growth cycle.

If momentum holds, the Binance ecosystem could continue setting the pace for the broader digital asset market in Q4 and beyond.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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