Quick Takeaways:
- BNB just flipped XRP to become the third-biggest crypto asset by market cap.
- Its price jumped nearly 30% in just a week, while Bitcoin and Ethereum lagged behind.
- But some are raising eyebrows over how fast it happened, and who might be behind it.
BNB’s Big Move: A New Leader Among Crypto Assets
It’s official: BNB is now the third-largest crypto asset, moving ahead of XRP in a surprise rally that’s got everyone in the crypto space talking.
Over the past week, BNB’s price skyrocketed to $1,326, adding around $40 billion to its market cap. That puts it just behind Bitcoin and Ethereum, two giants it’s unlikely to touch, at least for now.
What’s interesting is how BNB pulled this off while most of the crypto market was relatively quiet. Since October 1, Bitcoin is up just about 5%, and Ethereum gained around 8.4%.
Meanwhile, BNB soared nearly 30%, and people are starting to ask why. One reason could be BNB’s growing utility. Binance’s own blockchain, the BNB Chain, has experienced a significant spike in activity.
Additionally, a recent government-backed fund in Kazakhstan that uses BNB is a clear indication of practical adoption.
But that’s not the full story, and some in the community aren’t convinced this rise is entirely natural.
Is BNB’s Rise Too Good to Be True? Crypto Asset Debate Heats Up
As BNB climbed the charts, so did the skepticism. Across social media, users are questioning whether the price jump was genuine or if there’s something fishy going on.
On Reddit and X (formerly Twitter), crypto traders are pointing fingers at Binance itself. One popular theory? Binance could be buying up large amounts of BNB to liquidate short positions, driving the price up on purpose.
Adding to that suspicion, past reports suggest Binance founder CZ may control up to 64% of BNB’s circulating supply. If true, that means he holds over $116 billion worth of the crypto asset, giving him major influence over what happens next.
So far, Binance hasn’t responded to any of these claims. CZ simply tweeted: “Keep building on BNB Chain”, a message that avoided addressing the controversy directly.
On the flip side, BNB supporters argue that the growth is tied to genuine demand, rising user numbers, and increased developer activity. One analyst pointed out that the BNB Chain now sees over 60 million monthly active addresses, a number few other blockchains can match.
Still, the timing and speed of this rally have many people asking: Is this just a strong market run, or something more engineered?
What this means for the crypto asset market.
When XRP is replaced by BNB in the top rank of the cryptocurrency market, it is more than just the replacement of the names; it is the main shift in the landscape. Over the years, Bitcoin, Ethereum, and XRP have stood as the pillars of the world, so seeing BNB disturbed, it gives the lineup something to the ER.
This change indicates the increasing emphasis on practical utility and real-world adoption, not just a hype or speculative motion. If BNB growth continues on its current route, it can redefine what means to be a leading digital asset.
However, its position is far from secure. The XRP is still likely to regain the land, especially if the Ripple sees favorable results in its ongoing legal battle.
At the same time, any reliable evidence of manipulation or misconduct associated with BNB quickly weakens its position.
For now, however, BNB has been in its moment in the spotlight, and the rest of the market is looking with eager interest.
