BNB has continued its upward trajectory early Tuesday, with the Binance-supported token achieving a new all-time high and overtaking Tether to secure its spot as the third-largest cryptocurrency by market capitalization. In the wake of this latest surge, a publicly listed company disclosed it now holds over $600 million in the token.
CEA Industries Inc. (BNC) announced on Tuesday it possesses 480,000 BNB tokens at an average price of $860 per token, amounting to a total investment of around $412.8 million.
Due to BNB’s remarkable 27% increase in the past week, pushing its current price to $1,273, the value of these holdings now stands at approximately $611 million.
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Earlier on Tuesday, following CEA’s announcement, BNB reached a new peak price of $1,330, according to data from CoinGecko. The token has appreciated by 121% over the past year.
BNC shares saw an 8% rise today, trading above $10 per share, although this marks a 41% decline over the last month. CEA’s stock surged to a 52-week high near $83 per share in July when the company revealed its BNB treasury strategy.
CEA Industries currently owns the largest BNB treasury and aims to acquire 1% of the total BNB token supply by the end of 2025, mirroring the strategies of other prominent digital asset treasury firms like Strategy (Bitcoin) and BitMine Immersion Technologies (Ethereum).
“The new all-time highs for BNB are a strong confirmation that global markets are recognizing the essential value, credibility, scalability, and utility of both the asset and its ecosystem,” stated CEA Industries CEO David Namdar. “We consider BNB not merely a token, but as the core of a highly integrated ecosystem.”
The recent surge in BNB’s value has coincided with an increased utilization of the BNB-based perpetual futures exchange Aster, which has facilitated growing activity and new user engagement on BNB Chain.
“The driving force behind BNB’s recent boom has been significantly linked to heightened on-chain activity and increasing interest from institutional investors,” remarked Illia Otychenko, the lead analyst at CEX.IO, in an interview with Decrypt earlier Tuesday.
