BNB Chain is back in focus in 2025, with its total value locked climbing to the highest level since 2022.

The growth is supported by a steady rise in active addresses and its native token, BNB, trading close to its all-time high.

BNB Defies Market Crash

BNB Chains total value locked (TVL) has surged to $13.4 billion. The latest figure represents its highest level since 2022, according to data shared by CryptoRank.

The network has also maintained over 14 million active addresses for nine consecutive weeks, as a result of steady user engagement. This strength is mirrored in BNBs price performance, with the token trading just 3% below its recently established all-time high, even as most top cryptocurrencies retreated significantly from their respective peaks.

A crypto analyst stated that BNB is showing resilience despite the recent market downturn, having printed a fresh all-time high and holding above the key $814 support level. The analyst added that if momentum returns, a new ATH could follow, while potential pullbacks to around $806 or $770 may provide ideal long-entry opportunities.

From Wall Street to Bhutan

Institutional adoption has catalyzed BNBs growth. An increasing number of publicly listed companies are diversifying cash reserves with digital assets. Although Bitcoin and Ethereum continue to lead, investors are now eyeing BNB as a strong alternative.

For instance, companies like Windtree Therapeutics, Nano Labs, and Liminatus Pharma have added BNB to their treasuries. Meanwhile, BNB Network Company, which happens to be CEA Industries Inc.s treasury arm, recently purchased 200,000 BNB worth around $160 million. The company previously said that it aims to become the largest publicly traded BNB treasury company in the United States and bring institutional exposure to the asset.

Interestingly, institutional interest is not confined to corporates. Bhutans sovereign investment fund, Druk Holding Investments, also disclosed holdings in BNB. These developments briefly pushed the crypto asset near $870. It even outpaced household names like Nike and DoorDash in market value.