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But one token stands out: BNB, formerly known as Binance Coin, surged over 6% to overtake Ripple-promoted XRP as the third-largest crypto by market cap.
BNB Sets New All-Time High Amid Parabolic Advance
BNB has been riding a relentless rally since mid-year. The token reached $1,330.37 for the first time on Friday, after surging 6.9% in the last 24 hours, according to data aggregator CoinGecko.
BNB has surpassed XRP to become the third-largest cryptocurrency by market value, a phenomenon affectionately known in the cryptosphere as a “flippening.” A flippening occurs when a top crypto project surpasses another to steal its spot in the upper ranks. This one was widely anticipated, as BNB is up 29.4% over the past seven days.
BNB is the biggest gainer among the top 10 cryptocurrencies by market cap, with Bitcoin (BTC), Ethereum (ETH), XRP (XRP), and Solana (SOL) advancing 9.5%, 13.0%, 3.6%, and 10.1% respectively, over the same period.
 
BNB Fundamentals Stronger Than Ever
The BNB rally was fueled by volume spikes, increased demand from institutions, and rising network activity. The rally aligned with BNB Chain reclaiming its spot as the most-used blockchain by active addresses.
It registered 52.5 million active addresses last month, overtaking Solana for the first time since August, data from TokenTerminal shows. This activity was accompanied by a dramatic increase in decentralized trading and lending on the newly launched decentralized protocol Aster, which saw its total value locked soar 550% to $2.3 billion, according to analytics platform DeFiLlama.
The price rally also coincides with the announcement of a recent collaboration between BNB Chain and Chainlink to bring official U.S. economic data onto the blockchain.
Apart from network fundamentals, speculation around potential U.S.-listed spot BNB exchange-traded funds (ETFs) and fresh demand for BNB as a treasury asset further fueled the upsurge. Electric vehicle maker Jiuzi Holdings, Kazakhstan’s Alem Crypto Fund, and publicly traded CEA Industries have added BNB to their balance sheets.
The wider market has also been rallying amid a U.S. government shutdown that has resulted in data delays for the Federal Reserve. Traders are now betting that the Fed will slash interest rates by 25 basis points later this month, further benefiting risk assets like cryptocurrencies.
Source: https://zycrypto.com/bnb-overtakes-ripples-xrp-amid-explosive-momentum-to-take-no-3-position/