Binance's BNB Chain rebounds from slump
BNB Chain has rebounded in 2023 due to increased institutional and decentralized finance (DeFi) adoption, benefiting from multibillion-dollar inflows into DeFi and rising trading volumes at Binance. The BNB token has shown resilience, surpassing all-time highs in early 2025, with a current trading price around $600 and a market capitalization of nearly $85 billion. Standard Chartered predicts BNB could reach $2,775 by the end of 2028. BNB Chain's total value locked (TVL) has risen from approximately $3.5 billion to over $6 billion since early 2024, ranking fourth among layer-1 blockchains. Institutional adoption is increasing, driven by Binance's influence, which achieved a trading volume of around $76 trillion in 2024. The USD1 stablecoin, primarily issued on BNB Chain, has a circulating supply of over $2 billion.
