GM. BNB surged past XRP to become the world’s third-largest crypto, climbing to $1,304 after tripling daily transactions and fueling record volumes across BNB Chain’s DeFi ecosystem.

Meanwhile, Hyperliquid’s Hypurr NFT airdrop pushes its market cap to $300M, ICE invests $2B in Polymarket at a $9B valuation, and India unveils plans for an RBI-backed CBDC.

Big gains, big deals, and big policy shifts are driving today’s top crypto stories. 👇

BNB Surges Past XRP to Become Third-Largest Crypto

BNB climbed 80% in three months to become the third-largest cryptocurrency by market capitalization, surpassing Ripple's XRP this week. The token traded around $1,304 on Monday, up 7.5% in 24 hours, according to CoinMarketCap's market data.

BNB Chain’s daily transactions have quadrupled since mid-year as new token launches accelerated across decentralized exchanges. PancakeSwap processed nearly $80 billion in September trading volume, its highest level since November 2021, aided by Binance Alpha’s expanding user funnel.

BNB’s circulating supply continues to tighten through its burn mechanism, which removes a portion of network gas fees in real time. Analysts said higher transaction throughput has raised total fee burn, marginally boosting scarcity and supporting recent price appreciation.

Institutional interest is also increasing, with Nasdaq-listed CEA Industries revealing a 480,000 BNB position worth $585 million. Binance CEO Changpeng Zhao commented on X, “#BNB meme szn! I didn't expect this at all. I didn't expect this at all. And people keep asking me to predict the future… Keep building!”

Hyperliquid NFT Airdrop Pushes Hypurr Mcap to $300M

Hyperliquid distributed 4,600 Hypurr NFTs to early participants, igniting demand that sent its market value past $300 million. Each NFT’s floor price surged above $80,000 shortly after release, ranking Hypurr among the industry’s top five collections. Holders believe the assets will act as loyalty passes tied to future Hyperliquid rewards and governance.

Analysts said the airdrop demonstrates the growing use of NFTs as reward and retention mechanisms within onchain ecosystems. Hypurr’s scarcity and perceived long-term perks position it as a speculative yet influential status symbol. If Hyperliquid layers additional benefits, the collection could become a core credential for community engagement and ecosystem distribution.

ICE Invests $2B in Polymarket at $9B Valuation

Intercontinental Exchange announced a $2 billion investment in prediction platform Polymarket, valuing the startup at $9 billion. The deal will allow Polymarket’s pricing data to reach thousands of financial institutions via ICE’s global network. CEO Shayne Coplan said the partnership expands prediction markets’ reach while aligning with ICE’s long-term tokenization goals.

Polymarket gained mainstream traction after integrating with Bloomberg and securing advisory support from Donald Trump Jr. and Elon Musk. Coplan said ICE’s founder, Jeffrey Sprecher, aims to use blockchain to modernize financial infrastructure worldwide. Industry analysts believe the partnership validates decentralized prediction markets as viable tools for data aggregation and market forecasting.

India to Issue RBI-Backed Digital Currency (CBDC)

India’s commerce minister announced plans for a Reserve Bank-backed digital rupee to reduce reliance on private cryptocurrencies. Officials said the currency will streamline payments, improve traceability, and discourage speculation in unbacked crypto assets. The strategy seeks to replace the nation’s “tax-and-tolerate” policy with clearer oversight favoring regulated, asset-backed digital tokens.

Experts said India’s approach merges fintech innovation with state control, positioning the CBDC as a compliant alternative to stablecoins. Analysts warned, however, that heavy regulation may stifle startups and drive crypto talent abroad. The Reserve Bank’s ongoing digital rupee pilot provides India an early lead in deploying a sovereign-backed blockchain payment system.

Data of the day

Institutional accumulation of Ethereum surpassed ten percent of total supply as treasuries and spot ETFs reached 12.48 million ETH. Ethereum treasuries now hold 5.66 million ETH while ETFs control another 6.81 million, underscoring rising institutional confidence. Recent inflows mirror trends seen in bitcoin adoption, reinforcing Ethereum’s status as a maturing store of value.

Analysts said steady ETF inflows and growing treasury balances reflect Ethereum’s appeal as a yield-bearing institutional asset. Public firms like BitMine and SharpLink have increased exposure, with some reporting nine-figure unrealized profits from ETH holdings. Observers predict continued accumulation as Ethereum’s infrastructure evolves and regulated investment vehicles expand global access to staking yields.

More breaking news

• Senator Cynthia Lummis confirmed funding for the US Strategic Bitcoin Reserve can begin anytime, as lawmakers debate tapping $1 trillion in unrealized gold gains.

• Tokenized gold assets exceeded $3 billion as gold hit $4,000 per ounce, with PAXG, XAUT and KAU driving record trading volumes across major exchanges.

• The European Union is preparing sanctions on Russia’s ruble-backed A7A5 stablecoin to block crypto-based sanctions evasion and close cross-border financial loopholes.

• Bitcoin life insurer Meanwhile raised $82 million from Bain Capital Crypto and Haun Ventures to expand its BTC-denominated savings and retirement products.

• Grayscale staked $150 million in ETH for its new ETPs ahead of SEC rulings on 16 pending crypto funds and staking-enabled altcoin applications.

• CleanCore Solutions increased its corporate treasury to 710 million DOGE, aiming for one billion tokens under its long-term accumulation and utility expansion plan.

• US Bitcoin ETFs recorded $1.2 billion in daily inflows, led by BlackRock’s IBIT approaching $100 billion in assets under management this quarter.

• Tether plans to nominate candidates for a Juventus FC board seat in November, seeking deeper governance influence at the iconic Italian football club.

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