Nano Labs Bolsters Crypto Portfolio with $50M BNB Purchase, Aiming for 5%-10% of Circulating Supply

Nasdaq-listed Nano Labs has significantly expanded its cryptocurrency treasury by acquiring $50 million worth of Binance's native token, BNB. This strategic purchase, totaling 74,315 BNB at an average price of $672.45, elevates the company's total crypto holdings to an impressive $160 million, diversified between Bitcoin and BNB. The move is part of Nano Labs' ambitious plan to secure 5%-10% of BNB's circulating supply, following a recent $500 million private placement. This development underscores the growing institutional interest in digital assets and highlights Binance's pivotal role in the evolving crypto landscape.

Nano Labs Acquires $50M in BNB, Expanding Crypto Treasury to $160M

Nasdaq-listed Nano Labs has fortified its digital asset reserves with a $50 million purchase of BNB, Binance's native token. The acquisition of 74,315 BNB at an average price of $672.45 brings the company's total crypto holdings to $160 million, split between Bitcoin and BNB.

The move aligns with Nano Labs' broader strategy to accumulate 5%-10% of BNB's circulating supply, following a $500 million private placement in June. BNB held steady NEAR $660 after the announcement, with market observers eyeing a potential breakout above the key resistance level.

Institutional interest in BNB continues to grow, with former Coral Capital executives separately pursuing a $100 million treasury initiative. As the fifth-largest cryptocurrency, BNB's adoption by public companies underscores its evolving role in corporate balance sheets.

Bitcoin Nears All-Time High as Whales Withdraw from Binance

Bitcoin surged past $110,000 before settling at $109,386, marking a 1.8% daily gain. The rally brings it within striking distance of its May 2025 peak of $111,814, reigniting trader interest.

Binance recorded 3,400 BTC in net outflows as spot volume dominance jumped from 41% to 56%. Such withdrawals typically signal accumulation or hedging against volatility, coinciding with upcoming US macroeconomic data releases.