BNB Defies Market Volatility: Nano Labs Snaps Up 74,000 BNB in $50M Power Move
BNB just got a heavyweight endorsement—and it didn't cost a dime in marketing spend. Nano Labs dropped $50 million on 74,000 BNB tokens in a single swoop, signaling unshakable confidence in the crypto's backbone.
Why This Matters
When a tech player commits eight figures to a single asset, it's either reckless gambling or a chess move. Given BNB's track record, we're leaning toward the latter. The purchase acts as a liquidity anchor—propping up demand while lesser altcoins flail.
The Bigger Picture
Traditional finance still thinks 'crypto winter' is a clever insult. Meanwhile, strategic accumulations like this one keep proving that blockchain's heavy hitters play the long game. Bonus jab: Wall Street spends $50 million on a single consultant's slide deck. Crypto buys actual assets.
Nano Labs establishes $50 million BNB treasury
Nasdaq-listed Nano Labs (NA) announced that it has acquired 74,315 BNB for $50 million, officially incorporating the cryptocurrency into its digital asset treasury portfolio.
The purchase was made at an average price of $672.45 in an over-the-counter (OTC) transaction. Nano Labs now holds $160 million in its digital asset treasury, which comprises bitcoin and BNB.
Nano Labs' BNB acquisition comes after the company expressed plans to establish a $1 billion BNB treasury, following a $500 million private placement and convertible notes offering in June. The company intends to hold between 5% and 10% of BNB's total circulating supply in the long run.
BNB is the native token of the Binance Smart Chain and is the fifth-largest cryptocurrency by market capitalization.
Nano Labs isn't the only company establishing a BNB treasury. Former Coral Capital executives Patrick Horsman, Joshua Kruger, and Johnathan Pasch are also leading an initiative to raise $100 million for a BNB treasury through a Nasdaq-listed company, which they plan to rename Build & Build Corporation.
The move to establish a BNB treasury comes as more companies are looking to launch altcoin-focused treasury reserves, mirroring Strategy's (MSTR) Bitcoin playbook. Since the beginning of the year, several publicly listed companies have launched crypto treasuries focused on Ethereum (ETH), Solana (SOL) and Hyperliquid (HYPE).
Following the announcement, BNB held the support at $645, strengthened by the 50-day Exponential Moving Average (EMA), and is looking to move above $660. If BNB leaps out of this range, it could test a descending trendline resistance NEAR $680. However, a decline below the $645 support could send its price toward $615.
BNB/USDT daily chart
The Relative Strength Index (RSI) is slightly above its neutral level, indicating a modestly dominant bullish momentum.
