BNB flips XRP to become third-largest cryptocurrency

Market Overview - The crypto market experienced significant changes on October 7, with BNB surpassing XRP to become the third-largest cryptocurrency by market capitalization, with BNB at $6.9 billion and XRP at $6.4 billion [1] - BNB's price increased by over 25% in the past week, reaching a new all-time high (ATH) of $1,307.30, while XRP's price rose less than 5% [1] Major Cryptocurrencies - Bitcoin and Ethereum remain the two largest cryptocurrencies, with market caps of $2.48 trillion and $568 billion respectively [2] - Bitcoin achieved a new ATH of $126,198.07 on October 6 and was trading at $124,552.74, reflecting a 10% increase over the week [2] - Ethereum was trading at $4,708.63, up more than 13% in the same timeframe [2] BNB and Binance - BNB is the native token of the Binance Smart Chain (BSC), which is a blockchain network developed by Binance, the largest crypto exchange [3] - The Binance Smart Chain supports a robust infrastructure for decentralized finance (DeFi) platforms, catering to millions of users [3] - Following Bitcoin's record rally, BNB has been reaching new record highs, indicating strong market momentum [4] Market Sentiment - The crypto market has seen a surge in activity following the U.S. government shutdown, with traders increasingly viewing crypto as a safe haven asset [5] - The total crypto market capitalization was reported at $4.27 trillion at the time of writing [5]