BNB’s 30% Surge in One Week Sparks Market Manipulation Accusations
BNB, the native token of Binance, has set the crypto world ablaze by topping the crypto market hierarchy by overtaking XRP to become the third-largest cryptocurrency after soaring 30% in market capitalization.
But while the numbers are dazzling, but the unbelievable speed of this rise is raising eyebrows, with some even suspecting that the rally might even be manufactured more market-driven.
In the span of just seven days, BNB’s price skyrocketed to $1,326, a 30% spike in just seven days. Similarly, the crypto's market capitalisation soared to $182 billion, eclipsing XRP. By comparison, Bitcoin managed only a 5% rise, and Ethereum saw a modest 8.4% increase.
For a token that usually mirrors broader market trends, BNB’s sudden momentum is anything but ordinary. This meteoric acceleration comes after months of relative stability, leaving analysts stumbling to explain what triggered such an outsized rally in a short time frame.
Rumors of Market Manipulation Stir Controversy
Several factors appear to have supported the move. BNB adoption is expanding rapidly in regions such as Kazakhstan, where a government fund supporting the token was recently established.
The BNB Chain itself continues to grow, hitting a record 60 million monthly active addresses, according to on-chain data shared by analyst Momin Saqib.
Combined with renewed investor interest in the Binance ecosystem—despite its turbulent regulatory past—the environment seemed ripe for a rebound. Still, the scale and timing of BNB’s surge have drawn intense scrutiny.
As BNB’s price continued to climb, accusations of market manipulation began flooding social media. On Reddit and X, users voiced suspicion that Binance may have engineered the rally by buying back large amounts of BNB to liquidate short positions.
“BNB is starting to look like FTX’s FTT token. I can't wait for proof of manipulation, it will be glorious.”
Analyst DeFiTracer went further, accusing Binance of orchestrating “massive buybacks to trigger short squeezes,” suggesting the price rally may not be entirely organic.
So far, Binance and its founder Changpeng Zhao (CZ) have issued no direct response to the allegations. CZ, in his usual terse fashion, simply posted: “Keep building on BNB Chain.” The post—intended as encouragement to developers—did little to quell the community’s growing unease.
Trust, Transparency, and the Shadow of Centralization
These rumors highlight one of crypto’s oldest fault lines: the tension between growth and transparency. While BNB’s fundamentals—its ecosystem growth, active users, and regional adoption—paint a strong picture, its ties to the world’s largest centralized exchange make it vulnerable to credibility challenges.
A token’s price can climb rapidly, but confidence is far more fragile. In a market still recovering from the shadow of FTX’s implosion, even the hint of manipulation can shake investor trust, especially when the token in question is so closely tied to a single entity.
If BNB truly cements itself as the third-largest digital asset in the world, the implications could be enormous. On one hand, it would mark a comeback story for Binance—proof that its ecosystem remains strong despite years of regulatory pressure and skepticism.
On the other hand, it would also raise critical questions about centralization and market control. A token backed by the world’s largest exchange holding such a dominant market position could blur the lines between open-market valuation and institutional influence.
If BNB’s rally is indeed organic, it signals a maturing faith in exchange-based ecosystems. But if manipulation plays any role, the consequences could reverberate across the entire crypto landscape—fueling more calls for oversight, transparency, and decentralization.
Either way, BNB’s rise serves as a powerful reminder: in crypto, momentum can build overnight—but legitimacy must be earned every day.