BNC Buys $160M in BNB, Aims for $1.25B Holdings
BNC, a Nasdaq-listed firm, has purchased 200,000 BNB tokens worth $160 million, becoming the largest corporate holder of Binance Coin. The acquisition was funded through a $500 million private placement led by 10X Capital and YZi Labs. Under new CEO David Namdar and with Galaxy Digital’s co-founder joining the board, BNC plans to expand its BNB treasury to $1.25 billion via warrants.
BNB’s network shows strong fundamentals, with total value locked at $12.3 billion, 0.75-second transaction confirmations and $0.01 average fees. Over 30 public companies are exploring BNB corporate treasury strategies, potentially adding $1.2 billion in buying pressure.
BNB trades near $814, up 2% in 24 hours and close to its all-time high of $859. Technical indicators—including an RSI around 68, positive MACD and widening Bollinger Bands—signal bullish momentum. A break above $859 could send BNB toward $1,000–$1,200, with support near $750.
Bullish
BNC’s $160 million purchase and plan to grow its BNB holdings to $1.25 billion significantly increases demand for BNB. Corporate treasury strategies from over 30 public companies could add further buying pressure. Coupled with strong network fundamentals and positive technical indicators (RSI, MACD, Bollinger Bands), short-term momentum is likely to push BNB past resistance. In the long term, expanding institutional and corporate allocations should bolster BNB’s price stability and upward trajectory.