The crypto market has seen massive gains throughout 2025, driven by changing regulations, adoption, and price action. One of the biggest winners, however, was Binance Coin. In fact, BNB rose from $701 in January to a new all-time high of $1,375 in October.
Before heading back into the fourth quarter, BNB’s market capitalization rose from $75 billion to $182 billion – a sign of steady capital flows. Since then, on price charts, BNB has been trading in a descending channel, which also coincides with the broader crypto market correction. At press time, Binance Coin (BNB) was trading at $835.
That’s not all, as BNB chain usage and adoption rates have also reached all-time highs.
A cap of 279 million!
As crypto market conditions changed towards the end of 2024, investors rushed to more promising altcoins, fearing they were missing out. The crypto rush has greatly benefited BNB, with the altcoin seeing a surge in token holders.
According to Token Terminal, the number of BNB holders increased from 158.7 million in January to 279.2 million in December. This means that 121 million new holders have been added – a 76% increase in less than a year.
Source: Token Terminal
Generally, an increase in the number of holders is a sign of an accelerated adoption rate. Along with an increase in network participation, this can be seen as a clear sign of long-term demand.
On-Chain Activity Reaches All-Time Highs
Significantly, the increase in holders has significantly boosted the network’s on-chain activity. For example – TThe number of daily active users on the network increased from 800,000 to hovering between 2.8 and 3 million. This suggests a 234% increase on this front.
Source: Artemis
Likewise, the number of monthly active users increased by 100%, from 30 million to 60 million, indicating increased usage.
During the same period, the number of transacting users increased from 1 million to 3.4 million, confirming the increase in usage.
Source: Artemis
When these two indicators rise in tandem, it usually hints at real organic demand for the network and its native token. Historically, these market conditions have become bullish for the token, as evidenced by the price performance of BNB.
Can BNB ride the wave until 2026?
Binance Coin reached all-time highs in 2025 as demand for the altcoin increased among market participants. Through this, significant capital has been deployed into the ecosystem.
Such an evolution in demand is indicative of a mature environment, conducive to further growth if general market conditions prove favorable. Therefore, by 2026, BNB could see further growth on the price charts.
Source: Tradingview
In the short term, however, the bearish structure remains intact, as evidenced by the Directional Movement Index (DMI). A continuation of the trend could see BNB break the $800 support and drop to $795.
However, the long-term outlook remains positive, especially if the broader crypto market recovers. Under such conditions, the altcoin could target $948, strengthening it for a rally towards $1.4k in Q1 2026.
Final Thoughts
- The number of BNB holders jumped 76%, from 158 million in January to a new all-time high in December.
- Short-term weakness could potentially send the altcoin price below $800.
