2026-01-03 04:22:32

When BNB's market capitalization surpassed $119 billion in 2025, overtaking traditional financial giants like MicroStrategy, the entire market seemed to suddenly realize — a brand new asset paradigm is quietly taking shape.

The annual report released by BNB Chain speaks with on-chain data: independent addresses have exceeded 700 million, total value locked (TVL) has grown by 40.5%, and the real-world asset (RWA) sector has already surpassed $1.8 billion. Behind these numbers lies not only the vigorous development of the ecosystem but also reflects a profound shift in value — BNB is undergoing a transformation. From once being a purely functional token, it has evolved into a new strategic asset for global capital reallocation. Understanding the key to the second half of the bull market may well be hidden in this transformation.

**From Utility Token to Asset Allocation Target**

Looking back, the value of BNB was mainly reflected in transaction fee discounts and participation in ecosystem incentive programs. Its utility defined its identity. But a series of turning points in 2025 have completely rewritten this story.

The most direct signals come from strategic adjustments by traditional listed companies. Nasdaq-listed companies like Windtree Therapeutics and Nano Labs have begun to incorporate BNB into their treasury assets by establishing dedicated funds or creating subsidiaries. They see it as a "new type of financial infrastructure" to hedge against US dollar credit risk. Especially Nano Labs, which explicitly proposed to hold 5% to 10% of the total circulating supply of BNB for the long term — this is not a casual allocation.

The logic behind this is clear: institutional investors are recognizing the fundamentals of the BNB Chain ecosystem. A chain with hundreds of millions of active users has a strategic position for its token that is no longer comparable to the past. It is no longer just a token for a certain platform but has become a digital asset with strategic value, similar to Bitcoin and Ethereum, for portfolio allocation.

BNB-0.3%

BTC0.31%

ETH0.51%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

13 Likes

Reward
13
5
Repost
Share

Comment

0/400

ProxyCollector

· 4h ago

Whoa, Nano Labs is directly aiming to hold 5-10% of the circulating BNB. Is this guy serious? --- Really, are traditional listed companies now starting to hoard BNB? Now I need to pay more attention to on-chain data. --- From a utility token to a strategic asset, I see this transformation of BNB clearly, but I don't know how long it can last. --- 700 million independent addresses, 1.8 billion RWA... These numbers sound impressive, but whether they can truly be implemented depends on what happens next. --- Hedging against USD risk? Ha, now even listed companies are thinking this way, so what am I retail investors hesitating for? --- The key to the second half of the bull market actually lies in BNB. I should have seen this coming long ago. --- Wait, MicroStrategy has been surpassed by BNB in market cap? What's the logic here, one coin surpassing a listed company? --- RWA sector has grown by over 4 billion. That’s real application, much more reliable than those aircoins. --- No, I need to reassess BNB's position. I feel like I still understand it too superficially.

View OriginalReply0

GmGnSleeper

· 10h ago

BNB can transform from a fee token into a strategic asset, this shift is a bit crazy --- 700 million addresses, 40% growth... the data is solid, institutions starting to hoard also says everything needs no further explanation --- Wait, traditional listed companies are starting to treat BNB as a treasury asset? That shows a lot of confidence --- Does breaking 1.8 billion in RWA mean success, or is it just another story to hype the second half of the bull market --- From a utility token to strategic allocation, this narrative is too perfect... a bit虚吧 --- Nano Labs plans to hoard 5-10% of the total circulating supply? Is this a signal of institutional recognition? I don’t believe you --- Market cap surpassing micro strategies, what achievement is that? The key is whether people are actually using it or if it’s just paper wealth

View OriginalReply0

GasOptimizer

· 10h ago

BNB this wave is indeed different, rising from a fee token to a strategic asset. What does it mean that traditional companies are starting to stockpile it... Nano Labs aims to hold 5-10% of circulating supply, this momentum is quite fierce 700 million independent addresses is no joke; the ecosystem has really taken off I didn't react to the BTC super micro strategy segment at the time, but thinking back now, it's quite outrageous RWA is only over 1.8 billion, this is just the beginning; the future potential is really huge Honestly, it used to be just exchange tokens, but now this positioning has really changed

View OriginalReply0

ChainWallflower

· 10h ago

BNB changing from a fee discount token to a strategic asset—this shift is quite intense... 700 million addresses, RWA surpassing 1.8 billion, really starting to have that flavor. Traditional companies are copying now, a new way to hedge against the dollar, just old tricks with a new name. Wait, Nano Labs wants to eat up 5-10% of the circulating supply? How much would that cost? That's a bit harsh.

View OriginalReply0

MonkeySeeMonkeyDo

· 10h ago

Wow, even Nasdaq has started hoarding BNB? Now traditional finance has to bow its head and behave.

View OriginalReply0