What's Behind BNB Szn?

Olivia Capozzalo & Jona Jaupi
October 08, 2025

gm Defiers!

Today’s big story:

• BNB’s rally and the broader BNB Chain ecosystem surge mark a clear return of risk appetite across crypto, as traders rotate into perps and smaller-cap tokens

In other news:

• NYSE parent firm will invest up to $2B in Polymarket
• S&P Global to launch crypto industry index
• MNT reaches new all-time high after UR app launch
• Who really controls your blockchain? [SPONSORED]
• 1inch unveils rebrand as 'next chapter of DeFi' begins [SPONSORED]

📈 Markets in the Past 24 Hours

	TICKER	VALUE	24H
	Bitcoin	$122,606	-1.79 %
	Ethereum	$4,481.98	-5.71 %
	BNB	$1,301.18	-1.55 %
	XRP	$2.88	-3.41 %
	Solana	$222.06	-4.06 %

Today’s Big Story

BNB Hits New ATH amid BSC Memecoin Frenzy

BNB Chain’s native token BNB (formerly Binance Coin) just smashed yet another all-time high of $1,330 yesterday evening, and the chain is buzzing. The figure marks a 30% gain over the past week and a 48% jump over the past month, according to The Defiant’s price page.

The surge pushed BNB’s market capitalization past $181.54billion, overtaking Tether (USDT) and Ripple (XRP) to become the third-largest digital asset after Bitcoin (BTC) and Ethereum (ETH).

BNB all-time price chart. Source: CoinGecko

The rally marks a clear return of risk appetite across crypto, as traders rotate into smaller-cap tokens after Bitcoin’s latest surge. BTC hit a new all-time high above $126,000 on Monday, essentially lifting the entire market with it.

BSC Ecosystem Rise

BNB’s rally has also put BNB Smart Chain (BSC) back in the spotlight as a hub for memecoin speculation. Over the past week, most of the chain’s top-50 memecoins have posted strong gains alongside BNB’s rise.

SHIB, PEPE, and BONK all saw a 4-5% gain on the week, before retracing on Monday. Beyond the major memecoins, BROCCOLI — a token inspired by Binance co-founder Changpeng “CZ” Zhao’s dog — saw even more action, soaring nearly 45% yesterday, before retracing slightly, and bringing weekly gains to 83.5% and ranking among Tuesday’s top-performing crypto assets.

Though he’s stepped back from his daily role as CEO at Binance as part of a settlement with U.S. regulators, CZ remains actively involved in the BNB Chain ecosystem, which rebranded and declared its independence from Binance in 2022. He also has an official role at Binance’s former venture arm, YZi Labs, which also spun out from the CEX as an independent entity.

Following BROCCOLI’s rally, CZ officially declared that it’s “#BNB meme szn!” in an X post on Tuesday. “I didn't expect this at all. And people keep asking me to predict the future...Keep building!” the billionaire wrote.

Meanwhile, BSC’s total value locked (TVL) has jumped over $1 billion over the past week, climbing from $8.2 billion on Oct. 1 to $9.77 billion today. Over the past 24 hours alone, it has recorded over $6 billion in DEX volume.

This recent surge coincides with new token launches, like STBL and ASTER. Aster’s native token went live last month, and the YZi Labs-backed, BSC-based perpetual futures DEX has exploded in popularity since, temporarily overtaking long-time leader Hyperliquid, and driving a growing user base on BSC. The chain’s monthly active users climbed to 56.4 million last week, marking a 9.5% rise from September 2024’s previous peak of 51.8 million.

The BNB ecosystem surge also coincides with news last month that Binance is nearing an agreement with the U.S. Department of Justice (DoJ) to potentially be relieved of needing an independent compliance monitor.

Is this the start of a longer rally for the BNB ecosystem — or just a temporary bullish moment? We’ll see.

Xx Jona, staff reporter at The Defiant

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🎬WATCH

Solana vs. Bitcoin: Why Pantera Capital Is All In | Paul Veradittakit

On the latest episode of The Defiant Podcast, Cami sat down with Paul Veradittakit, Managing Partner at Pantera Capital, to discuss the explosive growth of Solana, the future of stablecoins, and the evolution of digital asset treasury companies.

Paul shares insights on Pantera's $1.2 billion Solana fund, the role of institutional capital in this crypto cycle, and why he believes Solana is poised to outperform Bitcoin and Ethereum. Tune in for a look into the next wave of blockchain innovation, from payments to gaming and beyond.

Top News in the Past 24 Hours

• NYSE Parent Firm Invests $2B in Polymarket Intercontinental Exchange, the owner of the New York Stock Exchange, announced a strategic investment of up to $2 billion in decentralized prediction market Polymarket, just months after the platform marked its official return to the U.S. Why it matters: Activity and unique transactions on prediction markets have hit new all-time highs for three consecutive weeks, while September marked Polymarket’s highest volume month this year.
• S&P Global to Launch New Index That Combines Cryptocurrencies and Crypto StocksS&P Global announced on Tuesday that it is expanding its crypto index offerings with the launch of a new benchmark that tracks both cryptocurrencies and traditional stocks tied to the crypto industry.Why it matters: The move highlights the accelerating mainstream adoption of crypto, as more investors and institutions integrate digital assets into their portfolios.
• Mantle Price Hits New High amid UR App Launch MNT, the native token of the Ethereum Layer 2 Mantle, reached a new all-time high of $2.47 late on Monday. The price surge coincided with the launch of UR, an app developed by the Mantle team that seeks to bridge traditional finance and DeFi. Why it matters: Built on Mantle, UR supports both on-chain crypto and fiat transactions.

Trending on The Defiant

• ‘Golden Age’ of Prediction Markets Dawns as Activity Reaches New Highs
• S&P Global to Launch New Index That Combines Cryptocurrencies and Crypto Stocks
• BTC Sets New ATH Above $126,000 as Analysts Expect ‘Tactically Bullish’ October
• Grayscale Launches Staking for Ethereum and Solana Spot Crypto ETPs
• Stablecoin Market Cap Surpasses $300 Billion as New Entrants Challenge Tether’s Dominance
• GLXY Jumps 8% as Galaxy Digital Launches Retail Platform

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