Messari: BNB's market capitalization reached $118.9 billion at the end of the year, a year-on-year increase of 17.8%.

Messari released its BNB Chain Q4 2025 report, stating that BNB's market capitalization reached $118.9 billion at the end of the year, a year-on-year increase of 17.8%, ranking as the third largest crypto asset. The average daily transaction volume in Q4 increased by 30.4% quarter-on-quarter to 17.3 million transactions, and daily active addresses rose to 2.6 million. RWA became the main growth engine, with on-chain assets reaching $2 billion, a quarter-on-quarter increase of 228% and a year-on-year increase of 555%, second only to Ethereum. The market capitalization of stablecoins increased by 9.2% quarter-on-quarter to $15.2 billion, and DeFi TVL reached $6.6 billion, with PancakeSwap accounting for 33.5%.