BNB，XRP和以太坊顯示出不同的趨勢

最值得注意的轉變之一是Binance Coin（BNB）通過市值恢復其作為第五大加密貨幣的地位。

The crypto market continues to evolve, with shifts in market capitalization among major digital assets reflecting both investor sentiment and fundamental developments.

加密市場不斷發展，主要數字資產的市值變化反映了投資者情緒和基本發展。

A recent analysis from CryptoQuant provides a closer look at how top crypto have performed in terms of market cap and drawdowns over the past several months.

CryptoQuant的最新分析仔細研究了過去幾個月中Top Crypto在市值和縮減方面的表現。

BNB, XRP, and Ethereum Show Diverging Trends

BNB，XRP和以太坊顯示出不同的趨勢

One of the most notable shifts has been Binance Coin (BNB) reclaiming its position as the fifth-largest cryptocurrency by market capitalization. BNB’s market cap rose to approximately $92 billion, surpassing Solana (SOL), which now sits at $74 billion.

最值得注意的轉變之一是Binance Coin（BNB）通過市值恢復其作為第五大加密貨幣的地位。 BNB的市值增長了大約920億美元，超過了Solana（Sol），現在的價格為740億美元。

This shift follows a strong rally in SOL during late 2024, largely fueled by growth in its meme coin ecosystem. However, the attention of speculative activity appears to have transitioned toward the BNB Chain, where similar crypto ecosystem momentum has helped support its recovery.

在2024年末，SOL的強烈集會發生了這一轉變，這在很大程度上是由於其模因硬幣生態系統的增長所推動的。但是，投機活動的注意力似乎已經轉移到BNB鏈中，在這種情況下，類似的加密生態系統動量有助於支持其恢復。

Another significant market cap development involves XRP. According to CryptoQuant, XRP’s market capitalization increased substantially following the 2024 US presidential election.

另一個重要的市值發展涉及XRP。根據CryptoFeant的說法，在2024年美國總統大選之後，XRP的市值大幅增加。

From a valuation of $30 billion in early November, XRP’s market cap climbed to $141 billion by March 2025. The timing of this rise appears to align with the outcome of the US election, which some believe could potentially influence regulatory sentiment around crypto assets.

從11月初的300億美元估值開始，到2025年3月，XRP的市值攀升至1,410億美元。這一崛起的時機似乎與美國大選的結果保持一致，有些人認為這可能會影響加密資產周圍的監管情緒。

In contrast, Ethereum (ETH) has faced a more challenging trajectory. After peaking in late 2024, ETH’s market capitalization declined by 50% to around $240 billion as of March 2025.

相比之下，以太坊（ETH）面臨著更具挑戰性的軌跡。在2024年下半年達到頂峰之後，ETH的市值下降了50％，截至2025年3月。

This sharp drop highlights the current volatility in the altcoin market and raises questions about Ethereum’s ability to maintain its prior valuation levels amid shifting macro and sector-specific factors.

這種急劇下降凸顯了當前的Altcoin市場波動率，並提出了有關以太坊在轉移宏觀和部門特異性因素中保持其先前估值水平的能力的問題。

Crypto Price Resilience and Drawdown Metrics

加密價格的彈性和提取指標

CryptoQuant’s report also evaluated drawdowns—the decline from an asset’s all-time high—as a measure of relative performance. Bitcoin (BTC) and BNB emerged as the most resilient assets among the group, each down approximately 20% from their respective all-time highs.

CryptoQuant的報告還評估了縮水量（從資產的歷史最高高點下降），以衡量相對績效。比特幣（BTC）和BNB成為該組中最有彈性的資產，每個資產都比各自的歷史高點下降了約20％。

BNB’s stability has been linked to its continued utility within the Binance ecosystem, including usage for transaction fees and platform-related activities.

BNB的穩定性與其在二元生態系統中的持續實用性有關，包括交易費用和與平台相關的活動的使用情況。

Meanwhile, ETH and SOL have struggled to recover from deeper drawdowns. Both assets are currently more than 50% below their previous peaks, highlighting higher levels of volatility and reduced investor momentum.

同時，ETH和SOL一直在努力從更深入的縮減中恢復過來。目前，這兩種資產都比以前的峰值低50％以上，強調了較高的波動性和降低的投資者勢頭。

Although XRP has seen a rise in market capitalization, its price still reflects a drawdown of roughly 36%, indicating that much of the new capital inflow has yet to translate into price recovery.

儘管XRP的市值增加了，但其價格仍然反映了大約36％的降低，這表明大部分新資本流入尚未轉化為價格恢復。