Key Highlights
- Binance Coin (BNB) has surpassed financial giant BlackRock in market capitalization, reaching over $184 billion
- The BNB Chain’s technological upgrades have made it faster and cheaper
- A memecoin frenzy on the chain has also driven record user activity and fees
Amid the historic bullish season, Binance Coin (BNB) has achieved a new milestone in its journey. According to CoinMarketCap, the cryptocurrency has surpassed the total market value of the world’s leading asset manager, BlackRock.
As of October 7, Binance Coin’s market capitalization reached $184.88 billion with a 5.27% spike, exceeding BlackRock’s $180 billion valuation. This achievement comes amid the meteoric rise of cryptocurrencies in recent months.
BNB Surges 28.41% in a Week
The cryptocurrency was originally launched in 2017 as a simple token to pay for trading fees on the Binance cryptocurrency exchange. It has since evolved into the foundation for an entire digital economy. Binance ecosystem includes the BNB chain blockchain, a system for faster transactions called opBNB, and a data storage network named BNB Greenfield.
According to CoinMarketCap, the token has surged over $1,285 with over a 28% hike in the last 7-day. This jump made it the third-biggest cryptocurrency, following Bitcoin and Ethereum.
Crypto Market Witnesses Bull Run
Binance Coin’s success is part of a larger surge across the entire cryptocurrency market. The total value of all cryptocurrencies has grown to $4.29 trillion. Major cryptocurrencies like Bitcoin and Ethereum are also trading at very high levels. This positive trend, often called an “Uptober” rally, has pushed the crypto to a new all-time high. On Monday, Bitcoin created a new ATH after breaking $126,000.
Several factors are contributing to Binance Coin’s strong performance. The token has a built-in scarcity mechanism where a portion of the supply is permanently destroyed, or “burned,” on a regular basis. The recent burn removed over 1.5 million BNB tokens, worth nearly $916 million, from circulation, reducing the total supply and increasing scarcity.
Furthermore, major companies are showing interest. One firm, Nano Labs, announced a plan to buy $500 million worth of Binance Coin. There is also growing speculation that investment funds based on cryptocurrency, similar to Bitcoin ETFs, could be created.
BNB Chain Grows in 2025
The BNB Chain, the blockchain network that the cryptocurrency powers, has seen major technological improvements in 2025. The network is now faster and cheaper to use than ever before. A recent upgrade reduced the time to confirm a transaction to less than two seconds. The cost for users to make transactions has also dropped to just one cent.
This efficiency has led to widespread adoption. The network now has almost 500 million unique user addresses and handles millions of transactions every day. Developers are also building more applications on the BNB Chain. Key areas of growth include decentralized finance (DeFi), where users can lend and borrow assets without a bank, and tokenized real-world assets (RWAs), which represent ownership of physical items like property or art on the blockchain. Major financial institutions, including Franklin Templeton, are now using the BNB Chain for their own digital projects.
Memecoin Frenzy on BNB Chain
The memecoin trend has also helped the blockchain boost activity on its chain. There are cryptocurrencies often inspired by internet jokes and social media trends. In 2025, trading volume for these tokens on tokens on the Chain has skyrocketed, sometimes surpassing the combined memecoin volume on Ethereum and Solana.
The low transaction fees on the Chain make it an ideal place for this kind of high-volume, retail-driven trading. Some of these memecoins, like one inspired by a Binance executive’s dog, have reached market values in the hundreds of millions of dollars. While this trend brings a lot of energy and new users to the network, experts also warn that it carries high risks.
