$BNB has just surpassed $XRP and $USDT in terms of market cap, making it the third largest crypto in the world.

The token surged to a high of $1,335 before bouncing back down to $1,308, leaving $BNB at around a 50% monthly increase. Its market cap now sits at around $183B, meaning that it’s just passed $XRP at $172B and Tether at $177B, but this could easily change at a moment’s notice.

We’ll get into why BNB’s surge could mean that meme coins like Maxi Doge ($MAXI) are primed to pump as a result, but first we’ll look into what’s causing the jump in $BNB’s price.

Why Is $BNB Growing?

It looks like the Uptober season is in full swing and Binance has seen a jump in activity as a result. Binance Smart Chain’s Total Value Locked (TVL) has grown by $1.88B in the last month, a 25% increase.

There’s also been a near 35% jump in the number of active addresses this month, reaching 2.89M.

This all coincides with a healthy season for memecoins. Bubblemaps has released an analysis showing the profit/loss for new token launches and found that around 70% of the active traders posted profits.

Of the 133K traders recorded trading EVM tokens during this new BNB meme coin season, 93K profited raking in a total of $516M over the period. This jump in speculative trading activity has boosted the value of $BNB as well as the Binance platform as a whole.

BNB is also up by almost 50% in the last month, with a 2x increase in it

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Author: Ben Wallis