BNC’s record-breaking $160 million purchase signals growing corporate interest in BNB as a reserve asset.
Nasdaq-listed BNC (formerly VAPE) has announced a $160 million purchase of 200,000 Binance Coin BNB $956.8 24h volatility: 5.7% Market cap: $132.85 B Vol. 24h: $3.51 B . The acquisition was financed through a $500 million private placement led by 10X Capital and YZi Labs.
The move has led BNC to become the largest corporate holder of the fifth-largest cryptocurrency worldwide. The company has also revealed plans to expand its BNB holdings up to $1.25 billion through its warrant structure, reinforcing a long-term crypto-first strategy.
To spearhead this investment shift, BNC has restructured its leadership team. David Namdar, co-founder of Galaxy Digital, takes over as the new CEO. Additionally, Hans Thomas and Alexander Monje from 10X Capital have joined the company’s Board of Directors.
BNB’s Growing Status as a Reserve Asset
BNB boasts $12.3 billion in total value locked and ranks as the third-largest blockchain by TVL. Its network processes transactions in just 0.75 seconds, with average gas fees of $0.01, making it one of the most scalable chains in the market.
Market observers note that at least 30 publicly traded companies are exploring BNB Treasury strategies, potentially adding $1.2 billion in buying pressure. Last week, at least three companies announced the addition of BNB to their corporate treasury strategy.
Institutional holdings already account for 1% of BNB’s total supply, underlining the crypto’s growing status as a reserve asset.
BNB is currently trading near $814, up 2% in the past 24 hours and just 5% shy of its all-time high of $859 reached on July 28.
BNB Price to $1,200 Soon?
The growing interest from institutional investors, along with BNB’s operational strengths, has set the stage for potential long-term growth.
On the daily BNB price chart, the RSI is hovering near 68, approaching the overbought zone. This suggests strong bullish momentum, though a brief consolidation could occur before the next leg up.
A rejection at the peak of $859 could trigger a pullback to the support level around $780.
BNB price chart with RSI and Bollinger Bands | Source: Trading View
Bollinger Bands are widening with price currently approaching the upper band, which is a sign of sustained buying pressure. A breakout above $859 could lead the crypto toward $1,000 and potentially $1,200.
The Moving Average Convergence Divergence (MACD) remains in positive territory, with the MACD line well above the signal line, confirming bullish sentiment.
BNB price chart with MACD | Source: Trading View
During the weekend, crypto analyst Ali Martinez suggested BNB’s price trajectory’s similarities with Bitcoin’s historic price structure.
$BNB is mirroring Bitcoin $BTC price structure and could be in the early stages of a bull rally to $1,200! pic.twitter.com/mohHzP5B0Z
— Ali (@ali_charts) August 9, 2025
He forecasted that it could be one of the next crypto to explode, setting a price target of $1,200, a level 47% up from the current prices.
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