CoinMarketCap Report Highlights Mask Network’s Resilience Amid Broader Market Decline as BNB Chain Sheds $5 Billion in Market Capitalization

On June 5, CoinMarketCap posted the BNB Chain weekly report on the X platform. It reveals a turbulent week for the Binance ecosystem. Nearly $5 billion was erased from the market capitalization as major tokens faced sharp corrections. Despite the widespread losses, BNB showed strength with only a 2.8% dip. Mask Network defied the downtrend, gaining 31.8% after acquiring Web3 app Orb. Meanwhile, the SEC officially ended its two-year lawsuit against Binance and CZ, lifting a major regulatory burden. Other events included the BOB meme coin listing, WLFI airdrop, and the launch of MVB Season 10 for Web3 builders. Amid the red wave, BNB Chain retained strong transaction momentum and gas asset performance.

BNB Chain Loses $5 Billion as Major Tokens Slide

The BNB Chain ecosystem saw a sharp $5 billion market cap decline this week. This followed a 3.1% market drop that affected nearly all major tokens. BNB token dropped just 2.8%, showing stability compared to other L1 assets. In contrast, DeXe lost 21%, FLOKI fell 15.5%, and BEAM dropped 14.8%.

Source: CMC Post On X Platform, June 5, 2025

Chainlink (LINK) also dipped 10.8%. Lesser-known assets such as Sophon (SOPH), Huma Finance (HUMA), and NEXSPACE (NXPC) dropped by over 25%. Mask Network emerged as a rare outperformer. The token gained 31.8% after acquiring Web3 social platform Orb. Sky (SKY) also rose 8.9% despite falling TVL. Market data shows most tokens on the BNB Chain gave back previous gains. Sentiment remained cautious across the ecosystem.

TVL Drops but BNB Chain Transactions Rise

Despite a 6.9% drop in total value locked (TVL), BNB Chain showed underlying strength. Daily transactions increased even as peer chains saw stagnation or decline. BNB ranked fourth among gas tokens by seven-day price change. This placed it ahead of many larger L1 tokens. Strong transaction volumes suggest continued developer and user interest. On-chain activity held steady, even during volatile price movements. BNB’s performance contrasted sharply with other L1s, which showed deeper declines and weaker fundamentals over the week. This resilience highlights the BNB Chain’s strong infrastructure and active user base during market corrections.

Binance Lawsuit Dropped as Regulatory Cloud Clears

On May 29, the U.S. SEC officially dismissed its civil lawsuit against Binance and founder Changpeng Zhao (CZ). The lawsuit had been pending since 2023. The case had cast a long shadow over BNB Chain’s regulatory outlook. Its closure marks a major relief for the broader ecosystem. Legal clarity could help restore investor confidence in Binance-linked tokens and products. Market reaction was muted, but sentiment appears to be improving. The lawsuit’s end also lifts pressure from centralized exchanges associated with Binance. This may lead to increased participation in future BNB Chain projects.

Meme Coin BOB Listed, MVB Season 10 Opens

The BNB Chain ecosystem welcomed several ecosystem updates this week. BOB, a newly listed meme token, debuted on Binance Alpha on June 3. Spot trading and 50x perpetual contracts opened for the token on Binance. This listing brought renewed interest from short-term traders. In another update, WLFI completed a $4 million airdrop in USD1 tokens to presale participants. This move rewarded early supporters of the project. MVB Season 10, BNB Chain’s builder accelerator, kicked off with rolling entries. The final date for the first cohort submission is June 6. The program offers mentorship and funding to promising Web3 startups building on BNB Chain infrastructure.

Regulatory Relief and Builder Support Boost Ecosystem Outlook

The SEC’s decision to end its case against Binance removes a major obstacle. This development may fuel fresh momentum for BNB Chain in the coming months. While token prices remain under pressure, fundamentals like transactions and ecosystem activity remain strong. Builder-focused programs like MVB Season 10 could spur innovation. New listings like BOB and growth from outliers like Mask Network suggest areas of market resilience. Continued user activity on BNB Chain provides long-term support. Overall, BNB Chain navigated a difficult market week with relative stability and forward-looking initiatives. Ecosystem participants are now watching for signs of recovery.