 
 
BNB, the native token of the Binance ecosystem, has surged to a new all-time high, crossing a market capitalization of roughly $165 billion.
BNB’s recent growth has reignited discussions around its growing influence and resilience. The rally marks one of the strongest performances by a large-cap crypto this quarter, driven by renewed ecosystem activity and institutional interest.
Crypto market analyst DaanCrypto noted that BNB’s ongoing rally reflects “insane strength” and a healthy sign for the market heading into Q4. “It’s healthy to see majors like these take the lead in Q4,” he wrote on X, adding that Layer 1 chains often lead before capital rotates into smaller-cap projects.
Another analytics page, SLTP_trade, echoed the sentiment, suggesting that if Bitcoin stabilizes and Ethereum continues upward, BNB’s momentum could signal the start of an “alt season rotation”.
Institutional adoption adds fuel
Adding to BNB’s bullish case, Kazakhstan recently launched a state-backed digital asset fund, the Alem Crypto Fund, debuting its reserves with a BNB purchase in partnership with Binance Kazakhstan.
 
Managed by Qazaqstan Venture Group under the Astana International Financial Centre, the fund aims to establish long-term crypto reserves and strengthen national digital asset infrastructure.
Binance’s ties with Kazakhstan date back to 2022, when the exchange helped the country develop its crypto regulatory framework. The new partnership comes shortly after Kazakhstan introduced a tenge-backed stablecoin (KZTE).
Meanwhile, data from CoinMarketCap highlights that BNB’s price has surged over 1,000,000% since launch, from $0.1096 to a record high of $1,370. However, on-chain activity hasn’t reached previous peaks.
The BNB Chain currently boasts a TVL of $8.8 billion according to CoinGecko, over 2.4 million active addresses, and 16.10 million daily transactions, showing room for further growth if fundamentals catch up with price momentum.