Nano Labs Makes Bold Move: Snaps Up 74,315 BNB Tokens in $50M Power Play
Crypto's playing field just got hotter—Nano Labs drops $50 million on a mountain of BNB tokens. That’s 74,315 coins riding into their treasury, signaling either diamond-handed conviction or another high-stakes gamble in the casino of decentralized finance.
Why this matters: When big players stack this hard, markets pay attention. BNB’s liquidity just got a jolt—whether that’s rocket fuel or a temporary sugar rush depends on who’s holding the bag when music stops.
Bonus jab: TradFi bankers watching this likely choked on their artisanal coffee—nothing says 'disruption' like dropping eight figures on a token that outpaces their legacy ETFs.
BNB buying spree backed by BTC liquidity
The company announced that Nano Labs has raised 600 BTC or $63.6 million in its first convertible notes offering. Some of this reserve was rapidly yet strategically reflected into BNB, a reflection of a careful transition towards platform-native utility tokens.
The treasury policy of the company became publicly visible when it disclosed that it had been harboring an unaccounted 400 BTC deposits in its coffers, which it had acquired at the price of $40 million. That earlier purchase predated the BNB pivot and has since grown vigorously through the new acquisition. The company said it would be making extra purchases, and its investors will get new types of convertible debt linked to Nano’s accumulation of crypto reserves.
In addition to the arbitrary buildup, the shift by Nano is also positioned as its survival tool. The company recorded only $2.2 million in revenue in the second half of 2024, representing a 39% decrease compared to the previous year. The operating losses stood at $8.4 million. Still, during cost reduction programs, the losses were reduced partly by a 62% decrease in R&D.
BNB price strengthens on treasury momentum
BNB is performing well following the purchase by Nano Labs. The token is now emerging from a small, pinched consolidation range of $640 to $650, boosted by corporate purchases and a favorable Maxwell hard fork that brought BNB Smart Chain transaction throughput.
BNB is currently trading at about $657 with its daily range of $657.85 to $664.79 at the time of press. The trading volume has declined by 5% in the last 24 hours. Technical indicators aid further upside. BNB has crossed the 50-day, 100-day, and 200-day simple moving averages. The Relative Strength Index (RSI) has soared to 55.48, indicating moderate bullish momentum.
On the weekly chart, the margin trader, The Boss, found a parallel ascending channel that BNB is still tracking. Once the breakout is confirmed, the price may go up to reach $900.
Although the token is already up 18% year-to-date, it trails competitors such as Cardano (ADA) and Tron (TRX), which have posted a 45% and 121% increase, respectively. However, that gap can soon be filled by institutional interest. Ex-Coral Capital leaders are planning a $100 million round in a Nasdaq-traded vehicle to buy BNB to build corporate treasuries—mirroring what Nano Labs does.
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