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US-listed $BNB Network Company (BNC) announced the purchase of an additional 88,888 $BNB. The YZi Labs-backed company significantly increased its total holdings following the purchase of 200,000 $BNB announced on August 11th.
With this move, BNC takes another step toward its goal of owning 1% of $BNB's total supply by the end of 2025. The company trades on Nasdaq under the ticker symbol BNC and operates 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, is the leader in daily active addresses and decentralized transaction volume. It stands out for its deflationary supply model, strong DeFi adoption, and rapidly growing developer-ecosystem base. Currently, the total value locked in the ecosystem (TVL) exceeds $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,” said BNC CEO David Namdar.
It is stated that if the plan is fully implemented and the options are exercised, BNC's $BNB position could exceed $1.25 billion.
*This is not investment advice.