In a significant market shift, BNB has overtaken XRP to become the world’s third-largest cryptocurrency by market capitalization, now trailing only behind Bitcoin and Ethereum. Data from CoinMarketCap shows BNB’s valuation standing at $179.87 billion, edging slightly ahead of XRP’s $178.27 billion.
XRP has maintained the third position for several weeks. While XRP occasionally loses the spot to USDT, it reclaims it within hours or days in most cases. However, this time, BNB has overtaken XRP, buoyed by its strong performance in recent weeks.
BNB’s recent rally is being driven by multiple factors, including strong institutional demand, increasing on-chain activity, and key network upgrades. Notably, analysts have pointed to the recent reduction of transaction fees to $0.005 as a major catalyst that has attracted more users to the BNB ecosystem.
BNB Outperforms XRP
BNB has risen to an all-time high of above $1,300 and has continued to show bullish momentum. Its trading volume has also spiked by 56.54% over the past day to $6.73 billion. BNB’s price has jumped 6.33% in the past 24 hours, extending its weekly gain to an impressive 27.92%.
XRP, on the other hand, continues to struggle to recapture the strong momentum it experienced earlier this year, when it soared to a multi-year high of $3.66. At press time, it is trading below the $3 mark, with one XRP changing hands at $2.97.
It has recorded a modest loss of 0.60% over the past day. Despite this, XRP is still up 4.66% in the past seven days.
Evans Kelvin
