BNB Rallies 23% in a Week, Outshines Bitcoin Amid Rising Activity

BNB, previously known as Binance Coin, recorded a strong performance over the past week, surpassing gains made by other major cryptocurrencies, including Bitcoin.

As of Wednesday, BNB, the native token of the BNB Chain, is trading at approximately $708 with a market capitalization of $103 billion. The price rose from around $569 on Feb. 5, marking a gain of more than 23%. In the past 24 hours alone, BNB is up 10%, according to data from CoinGecko.

By comparison, Bitcoin, which is currently trading at around $97,000, is down 2% over the past week. BNB is once again the fifth-largest cryptocurrency by market capitalization, recently surpassing Solana, which is trading at $197 with a market cap of $96 billion.

Experts believe BNB shows signs of a bullish breakout, driven by several factors, including increased adoption of BNB Chain, the pause of Binance’s legal battle with the Securities and Exchange Commission (SEC), and the TST memecoin frenzy.

Growing Userbase

On Feb. 11, BNB Chain reached an all-time high of approximately 517 million unique users, following its milestone of surpassing 500 million unique addresses in January, according to BscScan.

Compared to the same time last year, when the network had around 423 million users, this new record represents a 22% increase in unique users, underscoring the expanding adoption of BNB Chain.

Colin Goltra, Chief Growth Officer at Morph, told The Defiant what’s happening with BNB Chain right now goes beyond typical market movements.

“CZ is one of the truly legendary crypto founders and is exploring the state of what’s possible with crypto in 2025 – and BNB Chain is a primary beneficiary of this renewed focus,” Goltra said. “The network’s surge to over 500 million users is a direct reflection of how Founder-heavy leadership still ultimately drives adoption in this space. The G.O.A.T. is back.”

Binance vs. SEC

According to the Associated Press, the SEC on Tuesday sought to pause its lawsuit against Binance, the cryptocurrency exchange that developed BNB Chain, as it aims to take a more crypto-friendly approach under a new administration.

On Monday, Binance and the SEC jointly filed a motion requesting a 60-day stay in the case, which was initially brought by the agency two years ago under former Chairman Gary Gensler.

At the time, Gensler accused Binance and its founder, Changpeng Zhao (CZ), of operating a “web of deception” by allegedly operating as unregistered securities exchanges.

TST Memecoin Frenzy

Another potential driver for the BNB rally is the unexpected popularity of the TST meme coin, a test token created by the BNB Chain team for educational purposes. TST’s market capitalization skyrocketed to approximately $48 million within 20 minutes of Binance founder Changpeng Zhao posting about it on X.

Since then, the viral memecoin has been listed on Binance and is currently trading at $0.017, 65% below its all-time high of $0.51 recorded on Feb. 09. TST currently boasts a market capitalization of $167 million, according to CoinGecko.