BNB Jumps 129%, Following a Distribution Pattern Similar to Solana’s 2024 Run

BNB Surges 129% Over the Year as Distribution Drives Ecosystem Momentum

BNB, the native token of the BNB Chain, has gained 129% over the past year, outpacing Bitcoin and Ether, though it slipped more than 2.5% in the last 24 hours from a record high above $1,300 earlier this week. The token traded in a $62 range from Oct. 9–10 before closing near $1,250, according to CoinDesk Research.

Analysts say the rally is fueled by Binance’s scale and reach rather than hype. Jack O’Holleran, CEO of SKALE Labs, told CoinDesk, “We’re in a phase focused on reach over tech. Distribution is the key driver, with $14.8 billion in inflows last quarter and BNB Chain activity surging.”

Jasper De Maere, strategist at Wintermute, compared the rally to Solana’s late-2024 surge, noting that BNB’s gains, supported by gas-fee cuts, RWA incentives, and liquidity programs, triggered on-chain activity across yield, DeFi, and meme sectors, benefiting tokens like CAKE, HENA, HONEY, and MANTA.

De Maere described this as the “L1 wealth effect,” where rising token prices generate USD gains that are reinvested within the ecosystem. “Liquidity rotates internally as long as BNB prices hold near highs. Only when outflows accelerate does the loop end,” he said.

The BNB Chain continues to recycle capital internally, echoing Solana’s previous growth cycle, though signs of exhaustion could emerge if funds begin leaving the network.