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.
Source: https://en.bitcoinsistemi.com/the-market-experienced-a-downturn-but-one-company-cannot-be-stopped-they-made-a-significant-addition-to-their-portfolio-with-this-altcoin/
