BNB increased its monthly market capitalization by 6.2% and stood out as the only large-cap stock to finish in the green during the first Red October since 2018. In a volatile October, crypto market capitalization fell by 6.1%, BTC market capitalization also fell by 4%, ADA’s value fell by 24%, and SOL fell by 12.7%.
Binance Research has released a report discussing monthly trends in the cryptocurrency market for October. The report said October was a volatile month across crypto markets, with major assets experiencing sharp corrections and selective resilience.
He also suggested that part of the “Red October” downturn was due to the October 10th event, which wiped out more than $19 billion in positions. Broader macroeconomic factors also weighed on sentiment.
However, Binance Research observed that despite the correction, Binance token’s October rally was driven by strong growth in the ecosystem. This growth was supported by the launch of Polymarket and Myriad prediction markets and the rollout of Ondo Finance’s tokenized stocks and ETFs on the BNB chain.
BNB Chain Leads DeFi Growth
Source: Binance Research DeFi TVL shares of top blockchains.
Despite the economic downturn in October, BNB Chain led the growth of the DeFi ecosystem, followed by Solana and Arbitrum. However, Ethereum and Tron recorded a slight decline. DeFi TVL (total amount locked) also plummeted by 4.85% month-on-month as DeFi liquidity declined due to market correction.
On the other hand, stablecoin activities increased rapidly Because investors wanted safety. The stablecoin market capitalization increased by 3.54% as USDT continued to widen its lead over USDC.
In October, JPYC (fixed to the Japanese yen) and EUROD (backed to the euro) were introduced to the BNB chain. The companies have expanded the scope of stablecoins tied to major currencies beyond the US dollar, increasing the efficiency of cross-border payments. Binance Research observed a 135% spike in transactions on the BNB chain.
Meanwhile, this surge was mainly driven by the meme coin craze, which drove up the token price and attracted new traders. The excitement around Memecoin peaked in early October, with over 100,000 new traders jumping into Memecoin in one day (October 7th).
According to the report, nearly 70% of these new entrants ended up making a profit. About 40 people earned more than $1 million, and another 6,000 received more than $10,000. However, many of these meme coins crashed by October 8th and 9th.
Binance token surpasses $1,300
The report states that BNB Chain activity not only drove transactions, but also propelled the Binance token above $1,300 on October 13th. Binance Research observed that despite the pullback, BNB continued to rise by 6.6% for the month, providing resilience for the chain.
Rumors that Binance co-founder Changpeng Chao (CZ) will return to the company also seem to have spurred the rise. CZ previously explained that political, technological and regulatory factors are fueling BNB’s rise.
According to CZ, political changes have so far supported the rise in BNB prices. He emphasized that the new US administration has created a favorable environment for cryptocurrencies. The price of Binance tokens also skyrocketed due to growing expectations that President Donald Trump will grant a full pardon to CZ.
On the other hand, Mexico report We detail the expected price of BNB under different scenarios. In a bullish scenario, BNB is expected to test the previous resistance between $1,300 and $1,400 in the short term (October-November).
For the medium term (Q4 2025), we expect BNB prices to be in the $1,500-$1,800 range if the macro environment remains supportive. In the long term (until 2026), the price is expected to reach $2,292.
In our base scenario, assuming normal volatility and corrections, we expect BNB price to remain between $1,000 and $1,250 in the short term. In the medium term, it is expected to gradually rise towards $1,500 by the end of 2025. However, BNB is expected to maintain a modest average price of $1,090 in the long term.
