BNB News: BNB Surpasses Tether to Become the Third-Largest Cryptocurrency by Market Cap

Key Takeaways:BNB’s market capitalization surged to $177.97 billion, surpassing Tether (USDT) at $177.55 billion, according to CoinGecko.The token rallied 4.7% in 24 hours, reaching an intraday high of $1,275.66 — its strongest performance in months.The BNB Chain saw record network activity, with total value locked (TVL) on the Aster Protocol rising 570% to $2.34 billion.Institutional demand and ecosystem upgrades continue to fuel BNB’s rise as the broader crypto market surpasses $4.23 trillion in total capitalization.BNB has overtaken Tether (USDT) to become the third-largest cryptocurrency by market capitalization, data from CoinGecko shows.As of October 7, BNB’s market value stands at $177.97 billion, narrowly exceeding Tether’s $177.55 billion. The milestone came as BNB’s price climbed 4.71% in the past 24 hours to $1,275.66, driven by a surge in trading activity, institutional inflows, and expanding on-chain participation.BNB Chain Activity Hits Multi-Month HighsAccording to TokenTerminal and DeFiLlama, the BNB Chain has regained its position as the most-used blockchain by active addresses, surpassing Solana and Ethereum. This growth coincides with a massive spike in decentralized trading and lending, particularly on the Aster Protocol, where TVL skyrocketed 570% to $2.34 billion.At the same time, Binance’s ongoing Web3 integration efforts — including its Alpha Points programs, wallet events, and Launchpool campaigns — have drawn users back into the BNB ecosystem. The network’s recent gas fee reduction to 0.05 Gwei has further strengthened user retention and developer adoption.Institutional Demand and Macro SupportInstitutional investors continue to accumulate BNB amid growing confidence in its long-term utility and deflationary supply model. Several regional investment funds, including those in Kazakhstan and Southeast Asia, have reportedly added BNB to their digital asset portfolios.Market sentiment has also benefited from expectations that the Federal Reserve will cut interest rates later this year, reinforcing capital flows into risk assets and large-cap cryptos.BNB vs. Bitcoin, Ethereum, and the Broader MarketWhile Bitcoin (BTC) remains dominant at $124,131 with a market capitalization of $2.47 trillion, and Ethereum (ETH) trades around $4,681 with a $565 billion market cap, BNB’s climb past Tether underscores investor preference for utility-driven assets rather than stablecoin exposure.The total crypto market capitalization has now reached $4.23 trillion, with Bitcoin’s dominance at 58.3% and BNB strengthening as a key altcoin leader.