BNC Acquires $160 Million in BNB, Becomes Largest Corporate Holder
Nasdaq-listed BNC (formerly VAPE) has acquired 200,000 Binance Coin for $160 million, funded by a $500 million private placement led by 10X Capital and YZi Labs. This positions BNC as the largest corporate holder of Binance Coin.
BNC plans to increase its holdings to $1.25 billion through its warrant structure. Leadership changes include David Namdar as CEO, joined by Hans Thomas and Alexander Monje from 10X Capital on the Board of Directors.
BNB’s Growing Status
- BNB holds $12.3 billion in total value locked, ranking third among blockchains.
- Transaction processing time is 0.75 seconds with average gas fees of $0.01.
- 30 publicly traded companies are pursuing BNB Treasury strategies, potentially adding $1.2 billion in buying pressure.
- Institutional holdings represent 1% of BNB’s total supply.
- Current trading price is near $814, up 2% over the last 24 hours.
Price Projections
- Potential for BNB to reach $1,200 due to institutional interest and operational strengths.
- RSI near 68 indicates bullish momentum; consolidation may occur before further increases.
- A rejection at $859 could lead to support around $780.
- Bollinger Bands widening suggest sustained buying pressure.
- MACD signals positive sentiment; remains above the signal line.
Analyst Ali Martinez notes BNB's price trajectory mirrors Bitcoin's historic patterns, projecting a potential bull rally to $1,200, representing a 47% increase from current levels.