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$BNB is holding steady at $818, rising 1% higher in 24 hours and 8% over the past week amid a $160 million corporate treasury purchase.
- $BNB trades at $818 after a month-long 18% rally, nearing 2025 highs.
- BNC purchases $160M in $BNB, aiming to make it its primary reserve.
- Technicals show strong uptrend with resistance at $825 and support near $750.
$BNB ($BNB) has continued its 18% monthly increase, hovering between $747.06 and $825.28 over the past seven days. Market depth shows solid buy-side interest above $800, while spot volume and derivatives open interest both rose over the weekend, suggesting traders are positioning for a potential move.
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.
$BNB nears breakout as Nasdaq-listed BNC buys $160M in $BNB for treasury - 1">
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.