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From powering millions of daily transactions on the BNB Smart Chain to enabling payments, DeFi applications, and token launches, BNB’s utility extends far beyond its role as an exchange token. This breadth of integration has positioned it as a cornerstone of the broader Web3 economy, reflecting demand for assets supported by tangible infrastructure rather than speculative hype.
The shift also mirrors a maturing cryptocurrency landscape, where capital is flowing toward ecosystems that demonstrate consistent development, scalability, and user adoption. As a result, BNB’s steady ascent past XRP highlights not only market momentum but also a deeper narrative that blockchain projects with strong fundamentals and active ecosystems are now defining the next phase of crypto leadership.
Ecosystem Expansion as a Growth catalyst
BNB’s market value, which exceeded $184 billion, has been supported by increased network participation on BSC. The network reached 58 million daily active users, surpassing Solana’s active users for the first time since 2024. 24-hour trading volume reached a record $1.9 billion during a period of high network activity, indicating strong network activity.
As the fourth largest cryptocurrency by market capitalization, BNB reached a high of $1,370. As a result, online interest shifted towards BNB, with mindshare increasing by 251% in a single week.
 
While BNB pulled back after making an all-time high, it has kept its 4th place spot ahead of XRP. With the recent news of Binance co-founder Changpeng Zhao being pardoned by President Trump, BNB may have the catalyst it needs to continue the rally. BNB price jumped 6% as the news came out. In a statement on X, Binance posted, “Incredible news of CZ’s pardon today! Thank you, President Trump @POTUS, for your leadership and commitment to making the US the crypto capital of the world! CZ’s vision not only made Binance the world’s largest crypto exchange but also shaped the broader crypto movement. Binance remains focused on building a secure, transparent, and user-first platform that reduces fees and increases access to the financial system for all.”
BNB’s market presence is evident not only in its on-chain activity but also in its ecosystem development. Traders focus on high-performance blockchain as BNB records gas prices of 0.05 Gwei, 98% lower than in 2024. Additionally, Binance’s strong reputation and record user base of over 290 million continue to support network expansion and ecosystem growth.
On-chain Records
The Maxwell hard fork reduced block times, averaging 0.75 seconds with a finality of 1.875 seconds. Daily active addresses climbed to a record 3.6 million, as retail interest for BNB grew. Innovations and capital attribution drive on-chain activity to meme and DeFi trading.
Pancake swap has seen 16% growth YTD, driven by rising capital inflows and trading volume. TVL on BNB exceeds $17.1 billion, with Pancake Swap accounting for $2.5 billion. In Q3, the protocol saw a 42% increase in activity with $772 billion in cumulative trading volume.
As the ecosystem grows with increasing on-chain activity, BNB benefits from higher transaction fees. With 5 million daily users, BNB generates $8.02 million in trading fees alone. The Maxwell upgrade, which enhanced network throughput, enabled BNB to grow 30 times faster than Ethereum in May 2025, highlighting rising activity and confidence in its ecosystem.
Divergent Paths to Market Leadership
BNB’s quarterly burn mechanism remains a core structural element. Over 1.2% of the token supply has been burned. Moreover, 18.4% of tokens in circulation will be removed in 2025 through the quarterly burn. As such, the deflationary model creates scarcity and long-term demand.
XRP and BNB have divergent views on how to capitalize on the market. XRP prioritizes payment settlements and cross-border payments through liquidity. BNB, on the other hand, seeks to create ecosystem utility.
Binance continues to expand in new markets, creating a network effect and systematic access to Binance Smart Chain. As such, BNB’s value is closely tied to Binance’s growth, converging into a multifunctional asset.
Holders of BNB have also seen a growth in 2025. Wallets holding between 100-1,000 BNB saw a 16.9% increase. Additionally, active addresses increased by 12.5% from Q2, as new holders are onboarded through utility and an active ecosystem.
Sustainable Model Beyond Market Narratives
In the crypto space, utility and on-chain growth remain key indicators of long-term value. Empowering BNB communities through reliable use cases – meme ecosystems, DeFi, and developer initiatives- builds sustainable engagement.
The CEO of CEA Industries highlighted BNB’s “tangible utility,” noting that this aligns with the Binance Smart Chain’s recent period of accelerated growth, which has increased by 30%. The network’s Layer 2 upgrades have attracted both developers and users by offering faster block times, lower transaction fees, and increased functionality.
Sustained ecosystem growth has been supported by core network developments, resulting in record volumes on decentralized exchanges and continued expansion of on-chain activity.
Source: https://zycrypto.com/how-bnbs-ecosystem-push-propelled-it-past-xrp-in-the-crypto-rankings/