Key Takeaways
Why is BNB outperforming other altcoins?
With ROI nearly 2x ETH, $26 billion in fresh flows, and active addresses on BSC up 22%, smart money is clearly rotating into Binance Coin.
Could Binance Coin claim the third spot?
Binance’s OI is $3 billion vs. XRP’s $8 billion, the Ripple/Binance ratio has dropped 60%, putting it on track to lock in the third-largest asset.
Altcoins are heating up, but Binance Coin [BNB] is leading the charge.
Over the past week, TOTAL2 (market cap ex-BTC) ripped 6.68% to $1.73 trillion, a level we haven’t seen since November 2021. However, about 17% of that flow rotated into BNB, showing some serious relative strength.
Technically, that’s around $26 billion moving into BNB, taking its market cap to $166 billion, or roughly 4% of the $4.2 trillion crypto market. The implied per-BNB cost basis is now $1,194, marking a fresh all-time high.
Source: TradingView (BNB/USDT)
In short, Binance Coin is where the smart money is flowing.
The logic is simple: With an ROI nearly 2x that of Ethereum [ETH], strategic investors are rotating capital into BNB, chasing better upside. On-chain flows back it up, with active addresses on BSC jumping 22% in September.
And it doesn’t stop there. BNB’s Open Interest (OI) sits around $3 billion, vs. Ripple’s [XRP] $8 billion, making it a lower-risk trade with a clear psychological edge.
So, could this cement BNB as relatively undervalued?
BNB turns up the heat in the top-3 crypto shuffle
Binance Coin breaking $160 billion market cap has XRP feeling the heat.
Statistically, the gap is just 12.5%, and a $30 billion flow into BNB could be enough to push it past XRP and lock in the third-largest spot. What’s more, both technicals and on-chain flows are already backing this move.
That said, we still need to keep an eye on XRP.
However, Artemis Terminal data shows Binance’s market cap has doubled XRP’s 33% Q3 surge, highlighting a clear capital rotation into BNB, backed by the XRP/BNB ratio.
Source: TradingView (XRP/BNB)
Notably, the ratio has tanked nearly 60% since July, hitting a near-year low.
Meanwhile, on the weekly, we’ve seen three failed breakout attempts, pushing the ratio below key support. Put simply, the bid wall continues to weaken as capital rotates out of Ripple into Binance Coin.
Thus, with BNB’s on-chain growth, strong techs, and solid ROI, it’s clear Binance is leading the altcoin pack. However, XRP is under pressure, and the numbers favor BNB, setting it up to grab the third-largest crypto spot.
