BNB Overtakes XRP as Third-Largest Crypto on Strong BSC Activity

Published: 2025-12-14 11:28:06 |

Binance Coin (BNB) has overtaken Ripple (XRP) in market capitalization, rising above $120 billion to become the third-largest cryptocurrency. BNB is up about 27% year-to-date and roughly 30% above its Q3 open, outperforming many large-cap peers amid broader market weakness. On-chain metrics show Binance Smart Chain (BSC) remains resilient: BSC total value locked (TVL) fell only ~9% to about $6.86 billion, while DeFi TVL on the XRP Ledger dropped roughly 30% to about $68 million. The XRP/BNB ratio has declined about 8.5% over the past month, indicating capital rotation toward BNB. Analysts attribute BNB’s relative strength to sustained DeFi activity on BSC, lower fees, Ethereum interoperability, and Binance-led integrations (staking, NFTs). Traders should monitor the XRP/BNB ratio, BSC TVL trends and BNB technicals when sizing exposure. If on-chain flows and capital rotation persist, the market-cap flip may hold into 2026, suggesting potential stronger relative returns for BNB versus XRP.

Bullish

The market-cap flip and supporting on-chain metrics point to a bullish outlook for BNB relative to XRP. BNB’s price gains (≈27% YTD, ~30% above Q3 open) combined with only modest TVL decline on BSC (~9%) suggest sustained user activity and capital inflows. The XRP Ledger’s sharper DeFi TVL drop (~30%) and a falling XRP/BNB ratio (~8.5% over one month) indicate capital rotation toward BNB. In the short term, momentum and flows can continue to drive BNB outperformance, prompting traders to chase relative strength or pair-trade using the XRP/BNB ratio. Over the medium to long term, persistent higher TVL, lower fees, and ecosystem integrations (staking, NFTs, Ethereum interoperability) strengthen BNB’s case for continued relative gains; however, risks remain (regulatory pressure on Binance, macro shocks, or sudden liquidity shifts) that could reverse the trend. Traders should monitor BSC TVL, XRP/BNB ratio, on-chain inflows/outflows and BNB technical levels to manage risk.