📌 Summary:
🔹 Nano Labs acquires 74,315 BNB tokens worth $50 million in an OTC deal
🔹 The purchase is part of a broader plan to accumulate up to $1 billion worth of BNB
🔹 The company aims to hold 5–10% of BNB’s circulating supply
🔹 BNB price strengthens following the acquisition, breaking above key technical levels
Nano Labs, a Nasdaq-listed chipmaker, has kicked off an ambitious accumulation strategy for Binance Coin (BNB), announcing the purchase of 74,315 tokens via an over-the-counter transaction worth $50 million. The tokens were acquired at an average price of $672.45 each.
This move is part of a larger plan to accumulate up to $1 billion worth of BNB, with funding coming from interest-free convertible bonds and private placements. The company's goal is to hold 5–10% of BNB's total circulating supply.
From Bitcoin to BNB: A New Financial Approach
Unlike most corporations that store reserves in Bitcoin or Ethereum, Nano Labs has made a strategic shift toward BNB, becoming the first publicly traded U.S. company to adopt Binance Coin as its primary treasury asset.
Nano Labs already holds an estimated $160 million in digital assets, split between BTC and BNB. The company also disclosed previously unreported 400 BTC worth $40 million, acquired earlier.
Strategic Accumulation Amid Financial Challenges
Despite revenue challenges—$2.2 million in revenue in H2 2024, down 39% year-over-year—Nano Labs sees its BNB strategy as a tool for financial stabilization and growth. Operating losses totaled $8.4 million, but were partially offset by a 62% reduction in R&D spending.
The firm raised 600 BTC ($63.6M) in its first convertible bond issuance, part of which has already been allocated to BNB. Future BNB acquisitions will be backed by additional zero-interest debt instruments, payable in either fiat or crypto.
Market Reaction: BNB Gaining Strength
Following the purchase, BNB price has seen upward movement, breaking out of its recent narrow consolidation range of $640–$650. As of publication, BNB trades at around $657, with technical indicators showing bullish momentum.
The token has broken past its 50-day, 100-day, and 200-day moving averages, and the RSI surged to 55.48, suggesting a modest bullish trend. According to chart analyst "The Boss", a breakout from a weekly ascending parallel channel could push BNB toward $900.
While BNB has gained 18% since the start of the year, it still trails behind competitors like Cardano (+45%) and Tron (+121%). However, growing institutional interest may close this gap soon. Former Coral Capital leaders are reportedly preparing a $100 million investment round for a Nasdaq-listed ETF focused on BNB treasury building—echoing Nano Labs' strategy.
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