The BNB token, associated with the Binance exchange, has risen to third place among the world’s largest cryptocurrencies by market capitalization. According to CoinGecko, the asset’s market value has reached $179.2 billion, allowing it to surpass XRP.
Over the past 24 hours, BNB’s price has increased by almost 6%, and on October 7, it exceeded the $1300 mark for the first time. As of the time of writing, the token is trading at $1314.
Forecasts: Targeting $2000
Market analysts and traders are optimistic about BNB’s future performance. A well-known trader under the pseudonym Crypto King predicted that the token could reach $2000 in the near term.
Another crypto enthusiast, BitBull, agreed, suggesting that BNB might rally above $2000 during the current bullish cycle.
“Changpeng Zhao (CZ) has fully returned to active operations, and the BNB Chain ecosystem is showing dynamic growth,” he emphasized.
Growth Drivers
One of the key factors behind BNB’s rise is the surge in network activity within the BNB Chain ecosystem. The number of monthly active blockchain users has reached 58 million, surpassing NEAR and Solana.
A significant increase in activity has also been observed on Four.Meme, a platform for generating meme coins. According to analytics from DEX Screener, most of the trending tokens are now being launched on BNB Chain.
The ongoing rally may also be partly driven by excitement around the Aster decentralized exchange (DEX). Since the launch of its native token, the platform’s total value locked (TVL) has surged from $378 million to $2.4 billion.
Additionally, the BNB Chain developers recently reduced network fees, setting the minimum gas price at 0.05 Gwei for all transaction types. As a result, transaction costs have dropped to $0.01–$0.02, further boosting user activity and developer engagement.
Positive Market Sentiment
The overall sentiment in the crypto market remains bullish. Bitcoin has reached a new all-time high above $126,000, while Ethereum has tested the $4700 level.
Amid BNB’s price surge, Changpeng Zhao’s net worth has risen to $89 billion, propelling him 21 spots higher on the Forbes billionaire ranking.
According to available data, CZ holds about 64% of the total BNB supply — approximately 89.1 million tokens.
