BNB Network Company (BNC) Acquires Additional BNB

US-listed BNB Network Company (BNC) has announced the purchase of an additional 88,888 BNB. This marks a significant increase in its holdings following the earlier purchase of 200,000 BNB announced on August 11th.

With this latest acquisition, BNC moves closer to its goal of owning 1% of BNB’s total supply by the end of 2025. BNC trades on Nasdaq under the ticker symbol BNC and acts as the treasury management unit of CEA Industries Inc.

BNB is the native coin of BNB Chain and, according to a press release from BNC, it leads in daily active addresses and decentralized transaction volume. BNB is notable for its deflationary supply model, strong DeFi adoption, and a rapidly growing developer ecosystem, with the total value locked (TVL) in the ecosystem exceeding $12 billion.

“Each purchase strengthens our position, increases our exposure, and brings us closer to our goal of becoming an institutional-scale benchmark for BNB,” stated BNC CEO David Namdar.

If fully implemented, BNC’s position in BNB could exceed $1.25 billion if options are exercised.

> This is not investment advice.