CEA Industries (Nasdaq: BNC) has consolidated its position as the largest corporate shareholder of Binance Coin (BNB). The company announced via an official statement that it now holds 480,000 BNB, with an approximate value of $585.5 million. Its total investment amounts to $412.8 million, with an average purchase price of $860 per token.
The update comes as BNB reaches a new all-time high of $1,300, with an increase of more than 5.7% in 24 hours. This is partly due to the recent collaboration between Binance and Franklin Templeton.
According to data from TradingView, BNB traded around $1,294 on Monday, representing a weekly gain of 25% and an increase of 122% over six months. Its market capitalization already surpasses $184 billion, outpacing XRP and becoming the third largest cryptocurrency.
CEA Industries aims to control 1% of the total token supply by the end of the year. Additionally, it holds $77.5 million in cash and other assets, totaling approximately $663 million. This has allowed BNC to remain an important part of the Binance ecosystem.
The rise in BNB's price has generated reactions among key players in the crypto sector. Binance founder CZ posted on X that he called it "meme season #BNB!" and admitted that "he did not expect it at all."
His casual remark comes after a wave of social enthusiasm as the token expanded its leadership among major altcoins. Previously, Zhao urged traditional banks to integrate BNB, coinciding with analysts' forecasts of a breakout above $1,300.
Ali, a renowned cryptocurrency analyst, described the milestone of BNB as "a great achievement," highlighting its gain of 31.6% in seven days and a historic rise above XRP. The chart he shared showed that BNB was trading above $1,328, placing it firmly behind only Bitcoin and Ethereum in market value.
