BNB elevated its month-to-month market capitalization by 6.2% and stood out as the one large-cap inventory to complete within the inexperienced in the course of the first Pink October since 2018. In a unstable October, crypto market capitalization fell by 6.1%, BTC market capitalization additionally fell by 4%, ADA’s worth fell by 24%, and SOL fell by 12.7%.
Binance Analysis has launched a report discussing month-to-month developments within the cryptocurrency marketplace for October. The report stated October was a unstable month throughout crypto markets, with main property experiencing sharp corrections and selective resilience.
He additionally recommended that a part of the “Pink October” downturn was as a result of October tenth occasion, which worn out greater than $19 billion in positions. Broader macroeconomic components additionally weighed on sentiment.
Nevertheless, Binance Analysis noticed that regardless of the correction, Binance token’s October rally was pushed by sturdy development within the ecosystem. This development was supported by the launch of Polymarket and Myriad prediction markets and the rollout of Ondo Finance’s tokenized shares and ETFs on the BNB chain.
BNB Chain Leads DeFi Progress
Supply: Binance Analysis DeFi TVL shares of prime blockchains.
Regardless of the financial downturn in October, BNB Chain led the expansion of the DeFi ecosystem, adopted by Solana and Arbitrum. Nevertheless, Ethereum and Tron recorded a slight decline. DeFi TVL (whole quantity locked) additionally plummeted by 4.85% month-on-month as DeFi liquidity declined because of market correction.
In the meantime, stablecoin actions There was a sudden improve As a result of buyers needed security. The stablecoin market capitalization elevated by 3.54% as USDT continued to widen its lead over USDC.
In October, JPYC (mounted to the Japanese yen) and EUROD (backed to the euro) had been launched to the BNB chain. The businesses have expanded the scope of stablecoins tied to main currencies past the US greenback, growing the effectivity of cross-border funds. Binance Analysis noticed a 135% spike in transactions on the BNB chain.
In the meantime, this surge was primarily pushed by the meme coin craze, which drove up the token worth and attracted new merchants. The thrill round Memecoin peaked in early October, with over 100,000 new merchants leaping into Memecoin in sooner or later (October seventh).
Based on the report, practically 70% of those new entrants ended up making a revenue. About 40 folks earned greater than $1 million, and one other 6,000 acquired greater than $10,000. Nevertheless, many of those meme cash crashed by October eighth and ninth.
Binance token surpasses $1,300
The report states that BNB Chain exercise not solely drove transactions, but additionally propelled the Binance token above $1,300 on October thirteenth. Binance Analysis noticed that regardless of the pullback, BNB continued to rise by 6.6% for the month, offering resilience for the chain.
Rumors that Binance co-founder Changpeng Chao (CZ) will return to the corporate additionally appear to have spurred the rise. CZ beforehand defined that political, technological and regulatory components are fueling BNB’s rise.
Based on CZ, political modifications have to this point supported the rise in BNB costs. He emphasised that the brand new US administration has created a positive setting for cryptocurrencies. The worth of Binance tokens additionally skyrocketed because of rising expectations that President Donald Trump will grant a full pardon to CZ.
Alternatively, Mexico report We element the anticipated worth of BNB below totally different situations. In a bullish situation, BNB is predicted to check the earlier resistance between $1,300 and $1,400 within the brief time period (October-November).
For the medium time period (This fall 2025), we anticipate BNB costs to be within the $1,500-$1,800 vary if the macro setting stays supportive. In the long run (till 2026), the value is predicted to succeed in $2,292.
In our base situation, assuming regular volatility and corrections, we anticipate BNB worth to stay between $1,000 and $1,250 within the brief time period. Within the medium time period, it’s anticipated to regularly rise in the direction of $1,500 by the top of 2025. Nevertheless, BNB is predicted to take care of a modest common worth of $1,090 in the long run.
