BNB vs ETH: key numbers
BNB as a percentage of Ethereum. 100% means BNB has caught up. Data as of .
| Metric | Now | 1 year ago | Peak | Data since |
|---|---|---|---|---|
| Market cap | 35.6% | 31.7% | 45.8% Apr 10, 2025 | Jun 2019 |
An exchange token against a platform
BNB began as an ERC-20 token on Ethereum, sold in Binance's 2017 ICO, and moved to Binance's own chain in April 2019. It pays transaction fees on BNB Chain, whose smart-contract network launched in September 2020 as Binance Smart Chain, and it earns holders a discount on Binance trading fees. A quarterly auto-burn removes BNB from supply, with a long-run target of 100 million tokens. Because BNB's fortunes are tied to a single company, news about Binance moves it in ways that leave ETH untouched.
Closest when ETH sells off
BNB has never passed ETH in data going back to June 2019. Its weakest point was 3.9% on January 24, 2021. The DeFi boom on Binance Smart Chain then lifted it to 37.4% by April 12, 2021. The record is 45.8% on April 10, 2025, in a market sell-off that took ETH to about $1,500. The next-best stretch came in June 2026, when ETH fell from about $2,000 to under $1,600 in a week. BNB reached 41.0% on June 6, the same day Tether's USDT came within 1% of ETH on the Tether vs Ethereum tracker.
What a flip would need
Even at its April 2025 peak, BNB would have needed to more than double relative to ETH to pass it. That would take BNB Chain and Binance growing much faster than Ethereum, or a long slump in ETH that BNB avoided. BNB is the incumbent on two other trackers, against XRP and Solana.
BNB vs ETH flip history
BNB has never closed above Ethereum in this data, which begins in Jun 2019.
Frequently asked questions
Has BNB flipped Ethereum?
No. As of November 10, 2026, BNB's market cap is 35.6% of Ethereum's, so BNB would need to grow 2.8× relative to ETH to flip it. The closest it has come in this data was 45.8% on April 10, 2025.
What is the BNB/ETH market cap ratio today?
BNB's market cap is 35.6% of Ethereum's as of November 10, 2026. A year earlier, on November 10, 2025, it was 31.7%. Over the past 12 months it ranged from 29.3% to 41.0%.
How close has BNB come to flipping Ethereum?
The highest reading in this data is 45.8%, on April 10, 2025. BNB has never closed above Ethereum in this data, which begins in Jun 2019.
How much would BNB need to rise to flip ETH?
If Ethereum's market cap stayed where it is, BNB's market cap would need to grow 2.8× (about +181%) to reach parity. What matters is BNB outgrowing ETH by that much, not its dollar price on its own. At today's Ethereum market cap, that is roughly $1,910 per BNB (it closed at $678 on Nov 10, 2026), assuming BNB's supply stays the same.
Where does this data come from?
Market caps are Coin Metrics' estimated market capitalization (CapMrktEstUSD): the daily closing price (00:00 UTC) times a circulating supply sourced from CoinGecko, so figures can differ slightly from CoinGecko's or CoinMarketCap's own. Each chart plots BNB as a percentage of Ethereum, so 100% is parity. The data refreshes daily shortly after 00:00 UTC; the raw series is bnb-eth.json.