Nano Labs Expands Binance Coin (BNB) Treasury Reserve to $90 Million Amid Market Growth
Nano Labs, a Nasdaq-listed company trading under the ticker NA, has significantly increased its Binance Coin (BNB) treasury reserve to $90 million. The web3 infrastructure provider recently acquired an additional 45,684.9862 BNB worth $34.8 million through over-the-counter transactions, bringing its total holdings to 120,000 tokens. The average purchase price for the latest batch was $764 per BNB, with an overall acquisition cost of $7 million. This strategic move highlights Nano Labs' bullish stance on BNB and its confidence in the cryptocurrency market's upward trajectory. The expansion of its BNB reserves aligns with the broader market uptick, as institutional and corporate interest in digital assets continues to grow. Nano Labs' investment underscores the increasing adoption of Binance Coin as a treasury reserve asset, further solidifying BNB's position in the crypto ecosystem. This development also reflects the growing trend of companies diversifying their financial reserves with cryptocurrencies, particularly those with strong utility and ecosystem support like BNB.
Nano Labs Expands BNB Treasury Reserve to $90 Million Amid Crypto Market Uptick
Nano Labs, a Nasdaq-listed firm trading under the ticker NA, has bolstered its Binance Coin (BNB) treasury reserve to $90 million. The web3 infrastructure provider acquired an additional 45,684.9862 BNB worth $34.8 million through over-the-counter transactions, bringing its total holdings to 120,000 tokens. The average purchase price stood at $764 per BNB in the latest batch, with an overall acquisition cost of $707 per token.
The MOVE aligns with growing institutional interest in cryptocurrency reserves. Nano Labs initially announced its BNB strategic reserve plan in June, backed by a $500 million convertible notes agreement. The company aims to eventually hold 5%-10% of BNB's circulating supply, with a long-term target of $1 billion in acquisitions. Binance Coin continues to gain traction as a treasury asset among publicly traded firms.
BNB Retreats After Failed Breakout as Institutional Activity Intensifies
BNB slid 1.5% to $765 amid volatile trading, retreating from a weekly high NEAR $780. The move reflected a $34.87 range swing as institutional selling triggered liquidations near the $760 support level. Hourly volume spiked to 12,000 tokens during the sell-off.
Solana's SOL capitalized on BNB's weakness, gaining 3.5% to flip BNB's market cap at $109.3 billion versus $106.6 billion. Traders noted rejection candles at $770 resistance before bulls defended $745.75 support, prompting a short-lived recovery.
Binance temporarily paused BNB Smart Chain withdrawals for wallet maintenance, while blockchain firm Nano Labs disclosed accumulating 120,000 BNB ($90 million). The growing corporate position suggests institutional conviction despite recent price pressure.
BONK Defies Volatility with Strong Support Amid Institutional Interest
BONK weathered a turbulent 24-hour trading session, oscillating between $0.0000328 and $0.0000358 before settling 4% lower at $0.00003494. The Solana-based memecoin demonstrated remarkable resilience, with its $0.000033 support level attracting heavy buying volume—over 100 billion tokens exchanged hands during key tests of this threshold.
Institutional activity fueled market dynamics. Galaxy Digital moved $11.4 million worth of BONK to Binance after accumulating a $30 million position, while the exchange removed its 'Seed Tag' risk designation—a tacit endorsement of the token's maturity. Meanwhile, BonkFun solidified its dominance in the memecoin launchpad space, generating $19.3 million in fees for the second consecutive week.
Technical indicators reveal underlying strength: an 8% trading range with consistent support at $0.000033, followed by a swift recovery from $0.000034 to $0.000036. Such price action suggests growing conviction among both retail traders and institutional participants, despite persistent short-term volatility.
Bitcoin Holds $118K as Whales Absorb Binance Dump, Analysts Predict Bullish Reversal
Bitcoin's price stability at $118,000 underscores a market divided between retail profit-taking and institutional accumulation. On-chain data reveals a sharp rise in retail inflows to Binance—climbing from $12 billion to $16 billion—as smaller traders cash out. Yet, this selling pressure has been neutralized by whales and institutions quietly absorbing supply, mirroring the accumulation pattern seen during April's rally.
Technical indicators paint a balanced picture. BTC's consolidation between $116,800 and $118,500 forms a descending parallel channel, with tightening Bollinger Bands suggesting an impending breakout. The RSI at 63.11 remains bullish despite cooling momentum, while the MACD histogram flags potential short-term weakness. Market structure increasingly resembles a coiled spring—retail exits may soon give way to whale-driven upside.
BNB Eyes $800 Breakout as Open Interest Cools Post-Rally
Binance Coin (BNB) shows resilience near the $760 level despite a minor pullback from its recent peak at $781.99. The asset's price structure suggests bulls are consolidating for a potential push toward the psychologically significant $800 mark.
Open interest data reveals a telling divergence: while BNB's price maintains its upward trajectory, derivatives market activity has cooled from its July 20 peak of $103 billion to $99.53 billion. This decline in speculative positioning typically precedes periods of heightened volatility, often serving as a springboard for the next leg upward when accompanied by strong technical support.
The hourly chart paints a bullish picture, with consistent higher highs and higher lows since mid-July when BNB traded below $680. Market depth analysis indicates buyers are actively defending key support levels, creating a foundation for potential continuation patterns.
FBI Clears Kraken Co-Founder Jesse Powell as Exchange Advances Innovation
The FBI has closed its two-year investigation into Jesse Powell, co-founder of cryptocurrency exchange Kraken, without filing charges. The probe, unrelated to crypto operations, centered on allegations of cyberstalking tied to Powell's nonprofit Verge Center for the Arts. Federal authorities returned all seized devices after forensic analysis supported Powell's account.
Kraken maintained operational momentum throughout the investigation, recently expanding its tokenized U.S. equities platform to Binance Chain. The exchange's development of cross-chain accessibility underscores its commitment to infrastructure growth despite regulatory headwinds facing industry founders.
