jakiro
Author: Luoluo
10At the beginning of the month,BNB ChainThe first batch of Chinese namesMemeCoin (represented by “Binance Life”) suddenly became popular and spread to the English circle in a short period of time. Many overseas players began to learn Chinese and speculate in Chinese.Meme.
with previous reasonsSolanadominantMemeThe craze is different, this time the home field has completely changedBNB Chain.The creation and trading activity around “Chinese topic coins” has soared, and this craze has drivenBNB Chaininteraction and discussion activity,BNBPrices have also risen significantly in line with market sentiment, becoming a continuedBTCOne of the most outstanding mainstream assets since then.
However, in10moon11After the short-term fluctuations in the Japanese industry, market sentiment tightened for a time.ChineseMemeThe market also cooled down for a while, but what broke the silence wasCoinbase,ThatBaseChain leaderJesse PollakHe has previously publicly expressed his disapproval of the issue of currency listing fees.Binancedissatisfaction, but inBaseThe app demo accidentally used “Binance Life” as an example.This scene went viral, not only further promotingBNB Chainof ChineseMemeThe cross-chain narrative broke the circle and once again ignited the enthusiasm for discussion in the community.
10.11After the incident, the trading platformBinanceinvest4Launched the “Together in the Boat Project” with US$100 million,Subsidizing loss-making users and institutions, the entiremarketalsoGradually entering the self-healing stage, the activity on the chain rebounded and mainstream assets rebounded steadily..Despite the shock,The structural resilience and endogenous momentum accumulated in the third quarter of this year have not been broken.——The total market capitalization of the crypto asset market is at2025YearQ3The end has exceeded4.02Trillions of dollars.
And throughoutQ3,BinanceBoth spot and derivatives trading volumes on the exchange were higher thanQ2increased to9.93Total trading volume of trillions of dollars continues to dominate the1/3market share, which means strong fee income;BNBThe market value isQ3grow to1459.98billion US dollars, reflecting to a certain extentBinancevaluation; andBNBChainexistQ3The end came into being3.573100 million US dollars in fee income represents the chain’sWeb3underlying earning power.
Under the current situation,BinanceIt still ranks first in global transaction volume.When the “one super, many strong” pattern of the exchange industry tends to solidify, each company needs “living water” to increase, and the war has begun.on the chain,and“XXLife“It’s just a time when traffic takes sides“miniature“.
BinanceLeading the wayQ3:trading volumeRising with share
As the price of Bitcoin continues to hit all-time highs, the total market capitalization of the crypto asset market is at2025The third quarter of the year (Q3) The end has exceeded4.02trillion U.S. dollars, compared withQ2final3.46trillion dollar growth16.2%,Compare2024same period of the year ($2.33trillions) increased72.5%.
Cryptoasset market value trend chart in 2025
TOP10Exchange locationQ3Contributed28.7Total transaction volume of trillions of dollars, month-on-monthQ2($21.6trillion) growth32.87%.Among them, the total spot transaction volume is4.9trillion U.S. dollars, year-on-year (Q2: $3.6trillion) growth36.11%;The total derivatives trading volume is23.7trillion U.S. dollars, year-on-year (Q2: $20.2trillion) growth17.32%.
Take a broad viewTOP10Exchange share performance,Binanceto surpass9.93Trillions of dollars in total trading volume (spot+Derivatives) occupy34.59%share and is the only one that continues to occupy1/3Market share of crypto asset trading platform.
In Q3 of 2025, Binance still occupies the leading position in trading volume
During the same period, the exchanges with a share of more than 10% of the total trading volume were OKX (12.60%), Bitget (11.58%), MEXC (11.45%), and Bybit (11.36%). The overall market structure of the exchange industry will not change much in the short term.
Whether it is spot or derivatives, Binance’s trading volume share in Q3 occupies an absolute leading position in the market, and both have increased compared with Q2.
According to CoinGecko statistics, during Q3, among the top 6 platforms with total trading volume market share, Binance’s spot trading volume was US$2.05 trillion, accounting for 41.26% of the market share, a month-on-month increase of 3.27% from Q2; the market shares of Bybit and Bitget also increased slightly, with month-on-month growth of 0.57% and 0.38% respectively.
In Q3 of 2025, Binance spot/derivatives increased by 3.27% and 1% month-on-month
In the derivatives marketTOP6middle,Binanceby7.88Billions of dollars in trading volume accounted for33.20%share, still significantly ahead of other5home, relativelyQ2month-on-month growth1%;andGate.ioshare increased month-on-month2.07%,The largest increase;BitgetThe share of1.04%,ExceedBinance;MEXCThere was a slight increase0.8%.
While leading the market share in transaction volume,BinanceexistQ3Take Gundam148The net inflow of US$100 million hit the largest record, consolidating its position in centralized exchanges.(CEX)dominance in the field.
In Q3 of 2025, Binance’s net inflow exceeded US$14.8 billion
However, it is worth noting that under the huge market rise with the total market value of crypto assets increasing by 16.2% month-on-month and the transaction volume increasing by 32.87% month-on-month, the market share of each trading platform has not experienced a significant increase or decrease. The overall pattern tends to be solidified. During the competition, the defense and offense of each platform seem to be very difficult, and new breakthroughs are urgently needed.
Market No. 1BinanceIt seems that it has already seen the limitations of the battle for exchange stock, and has invested its strategic vision on the chain early. Phenomenal products in the second quarterAlphaJust one step“key move“, and increased investment in the third quarter.
BNBChainMonthly increase in active addresses57%,”chain versionBinance”releaseDEXpotential
Integrate from the chainBinanceMain siteAlphaLike firewood,AlphaAirdrop is fire, one willBNBChainThe chain was completely ignited, and the popularity has continued from the beginning of the year to this day.
CryptoRankThe latest report shows thatBNBChainandSolana,Avalanche tied”2025YearQ3Best performing blockchain”. Among them,BNBChainofDEXTransaction volume reaches2250billion US dollars, a record2021the highest level since the fourth quarter of 2019, second only toSolana($3650billion) andEthereum($3370100 million).
But in terms of the number of active addresses,BNBChainstart at9Monthly surpassed other chains, reaching5250A new high level of 10,000 yuan, a month-on-month increase57%;Same period,SolanaandEthereumThe data is4580Wanhe890Ten thousand.BNBChainThe number of transactions has also increased significantly, fromQ2of8.92billion transactions increased to 3% in the third quarter12.2billions.
In September, the number of active addresses on BNBChain exceeded 52.5 million, ranking first among mainstream chains.
The substantial increase in activity has allowedBNBChainexistQ3It arose before it was over3.573billion in fee revenue.CryptoRankThe report stated that only9month,BNBChainincome reaches220million US dollars, a record3the highest level since last month.
also,DefiLlamaThe data shows,BNB Smart Chain(BSC) The number of protocols onQ3not reached1033one, yesSolana(381) of2.7times, gradually moving toward Ethereum (Ethereum)of1638one gets closer;BSCon the chainTVLachieve87.29billion, despite being far from Ethereum ($874.15billion) is still far away, still worse26Billions of dollars are about to catch upSolana($113.68billion), butBSCofTVLset a record15.02%The monthly increment becomesTVL TOP10The bottom layer with the strongest growth among public chains.
Among the key indicators of each chain, BSC’s TVL has a significant monthly increase.
If we sayAlphayesBinanceOpen the chain ecology inQ2The key to quarterly growth, thenBNBChainappeared onPerp DEX “Aster”It’s the successor, the perpetual contractDEXexist9There was growth in multiple indicators in the month, and the single-day revenue once reached720million US dollars, even more than the derivatives industry“Wang Zha“Hyperliquid(279million U.S. dollars).Its growth will alsoBNBChainThe trading volume of perpetual contract is inQ3soared55%,achieve360billion dollars.
BNBChainOn-chain transactions andTVLThe continuous growth will help reduce costs and increase costs.
When transactions become the primary use case on the chain,9moontwenty fourday,BNBChainof validator proposals, which will be the minimumGasPrice from0.1Gweidowngraded to0.05 Gwei, and change the block generation interval from750milliseconds reduced to450millisecond.This proposal is in the past18This is the third major fee reduction in a month. The long-term goal is to reduce the single transaction fee to approximately0.001Dollar.
In fact,BNBChainThe handling fees have been reduced several times in the past:2024Year4month from3 Gweidown to1 Gwei,2025Year5month again from1 Gweidown to0.1 Gwei, the cumulative reduction reaches75%.
5The fee reduction last month had a significant effect: the median transaction fee dropped75%(from0.04US dollar fell to0.01USD), the number of transactions in a single day increased sharply140%,breakthrough1200Thousands of pens.It turns out that there is a strong correlation between fee reductions and increases in network usage.
9The measures to reduce the fee growth rate again every month have providedBNBChainThe upgrade from a general public chain to the bottom layer of the financial system has once again paved the way.
past,BNBChainAlready collected on the chain, includingPancakeSwap,Venus,Uniswap,Solv Protocol,AaveWait for the veteranDEX, loans, etc.DeFiplatform,AsterThe appearance of theBSCDerivatives sector on the chain, and for itself andBNBChainCreated immediate value.
BNBChainThe multiple blooms of the ecology on the chain have also verifiedBinanceFounder Zhao Changpeng (aka.CZ)exist3Judgment years ago:DEXThe potential is huge.AlphaandAsterIt’s done3The best answer in the next year, this pair“pairA”DEXAlso testedBNBChainThe ability to cope with high-frequency transactions on the chain.
As one media headline described,BinanceMade two more“SmallBinance” – Alphafocus on“Spot on the chain“,AsterUndertake“On-chain contract“.Under fierce market competition, it can subvertBinanceAt present, it is stillBinanceOwn.
But the question is, although the potential on the chain is unlimited, how can we get more cars running on the highway?This is not only related toBinanceThe source of ecological increment also determines“On-chain income“BNBHow much value can be created?
BNBcreate1376New record for US dollar, where is the next growth point?
If according to the logic of traditional capital markets, whenBinanceWhen an ecology not only has super products that can support its value, but also has super profitability, the capital market will estimate its value.At the moment,1500billion US dollarsBNBMarket capitalization can be viewed as the market pairBinanceThe strong expectations also brought it back to crypto assetsTOP3position, can the addition continue?
BNB’s market capitalization performance this year
Part of the driving force for this round of growth comes from capital investmentBNBThe potential is promising, especially when Bitcoin (BTC) and Ethereum (ETH) after being created by various financial treasury like a race to the bottom.
Just like U.S. investment banksJefferiesAs noted in a recent client Q&A report with large institutional investors, cryptoassets, much like the early days of the dot-com boom, are still in“1996year stage“, there is still more room for growth,“Many companies are actively developing investment strategies and determining how to invest in tokens,ETF, Digital Asset Treasury Company (DAT) and risk-exposed listed companies.“
“Too much focus on the price of Bitcoin distracts from the potential of blockchain technology to disrupt various industries.“JefferiesAnalyst recommendations and1996The investment strategy in the Internet era echoes that of 2017, which is to be selective and focus on long-lasting effectiveness.JefferiesRecommendation, tokens should be analyzed as early stage tech startups are analyzed, prioritizing“Adoption, development, usage and use cases“.
BNBis one of the targets that meets this recommendation.
This year6moon,7In August, a number of listed companies in traditional industries announced that they wouldBNBincluded in the balance sheet.whenCZreveal, exceed30teams are preparing to involveBNBWhen listed company projects are in reserve, this momentum isQ3further growth.
arrive8moon25day,Web3″Lao Pao“B Strategyannounced that it will beYZi LabsFinancing with the support of10billion and form a U.S. listed company that will holdBNBas a financial asset and invested inBNBecosystem.andYZi LabsRegarded as a cryptosphere by the outside world“The strongest family office“, since this year1month fromBinanceAfter spinning off independent operations, we started to manageBinanceFounderCZand a fewBinanceEarly stage executive funding.
Several institutions include BNB in reserve/treasury plans
10moon13On the same day, Bloomberg reported that China Renaissance, a Hong Kong-listed investment bank, planned to raise6Billion dollar launch in U.S. focused onBNBtreasury.Once completed, the project will become a publicly traded companyBNBlargest single investment.In addition, 10moon9Japan, SoftBank (9984.T)’s payment application operatorPayPay CorpacquisitionBinance Japan 40%News of the stake has also reached the market.
News of institutional investments and acquisitions coupled with the growth of on-chain activities further enhance market confidence and provideBNBThe subsequent rise provided support.
Despite investmentBNBstill means people are investingBinancefuture, butBNBIt has long escaped the narrative of exchange platform currency and is already a comprehensive crypto-asset that integrates trading, payment, public chain fuel, and investment tools, adapting to different groups of people.
useBinanceIn the words of users,“For trading users,BNBIt can deduct handling fees to save transaction costs; for investors, it isLaunchpool,TGEA pass to participate in early projects and earn revenue; for developers, it isBNBChainBuilding decentralized applications onGas.“
arrive9moon,“Prioritize adoption, development, usage and use cases“The agency is here.compared toMemefrenzy, such participation can become moreBNBThe hard core power of ecological increment.
9moontwenty fourday, managing1.6Franklin Templeton, the global investment giant with trillions of dollars in assets (Franklin Templeton) indicates that it is converting its proprietaryBenjiTechnology platform expanded toBNBChainEcosystem, looking forward to utilizingBNBChainfurther strengthened by its technological advantages, including its scalable, low-cost infrastructure and high transaction throughputBenjiProfessional capabilities in the field of institutional-level tokenization to create on-chain financial assets.
10moon15On that day, CMB International Asset Management Co., Ltd. (CMB International Asset Management Co., Ltd.), a wholly-owned subsidiary of China Merchants BankCMBIAM) will have an asset management scale exceeding38Billion dollar money market fund launchedBNBChain.By deploying on the chainCMBMINTandCMBIMINT Tokens, investors can use legal currency or stable currency to subscribe and passDigiFTProprietary liquidity management smart contracts redeem their holdings in real time.
That’s right,RWA, one that has in practice combined traditional financial assets withWeb3technology/Encrypted channels to connect the world.For something likeBNBChainOnly with large-scale adoption of such on-chain infrastructure can we have the opportunity to verify its value. Compared withMeme, that is a new and more transformative world.
When more Franklin Templeton and CMB International adoptBNBChainContinuously expand, upgrade, reduce fees, and increase efficiencyBNBChainin order to achieve its long-term goals——Become the cornerstone of the financial system——This isBNBtime travelMemeHype, hustle and bustle, creation1376After the U.S. dollar reaches a new high, it is really the sea of stars that leads to it.
