BNB on the Brink: Nasdaq Giant BNC Drops $160M Treasury Bet as Breakout Looms
BNB's price action just got a Wall Street steroid shot—and the charts are screaming breakout.
Nasdaq-listed BNC just parked $160 million of corporate treasury funds into Binance Coin, flipping traditional reserve assets the bird. Who needs bonds when you've got 24/7 crypto volatility?
This isn't some degen hedge fund play. We're talking cold institutional money betting big on BNB's infrastructure dominance. The move follows Binance's relentless ecosystem expansion—from DeFi to real-world payment integrations.
Technical indicators now show BNB testing multi-week resistance levels. Break past this zone, and we could see a full-blown FOMO rally. Fail, and well... at least BNC's accountants will have a thrilling impairment story for next quarter's earnings call.
One thing's clear: When publicly traded companies start using crypto treasuries as marketing stunts, we've either entered a new paradigm—or the late-stage bull market casino just got a VIP section.
BNC’s $160M bet on BNB
On Aug 10, BNB Network Company (Nasdaq: BNC), formerly CEA Industries, announced a landmark purchase of 200,000 BNB tokens, worth $160 million. The acquisition comes after a $500 million private placement that was supported by YZi Labs and 10X Capital. The capital raised from the sale will be used to establish BNB as its main reserve asset.
BNC now holds more BNB than any other publicly listed firm and has set a target to fully allocate its treasury to the token. If existing warrants are exercised, the company could commit up to $1.25 billion.
The latest MOVE comes alongside changes in leadership. To direct the BNB corporate strategy, Galaxy Digital co-founder David Namdar has taken over as chief executive officer.
BNB technical analysis
BNB’s price structure shows a sustained upward momentum, with the token trading above every significant moving average, from the 200-day SMA at $650 to the 10-day EMA at $791. The upper band around $837 is serving as immediate resistance as the Bollinger Bands widen.
The relative strength index, which is slightly below overbought territory at 65.88, indicates that there may be more upside before buyers become exhausted. Momentum indicators like the 10-day Momentum point towards continued strength, while MACD levels are still in buy territory, supporting bullish sentiment.
In the short term, a break above $825 might pave the way for $850–$875. Prices could retrace toward $790 if resistance holds, with stronger support close to $750. With both fundamentals and technicals leaning positive, BNB’s next decisive move could set the tone for the remainder of August.
