BNB extended its recent surge early Tuesday, with the Binance-backed token setting a fresh all-time high mark and flipping Tether to become the third-largest cryptocurrency by market cap. And following the latest leg up, a publicly traded company revealed that it now holds more than $600 million worth of the coin.
CEA Industries Inc. (BNC) said Tuesday that it now holds 480,000 BNB tokens with an average acquisition cost of $860 per token, representing a total investment of approximately $412.8 million.
Thanks to BNB’s latest surge, which has seen the coin jump in value by 27% in the last week alone to a current price of $1,273, those holdings are now valued at $611 million.
Earlier Tuesday, following CEA’s announcement, BNB peaked at a new record price of $1,330, per data from CoinGecko. It’s currently up 121% over the last year.
BNC shares are up 8% on the day at a price above $10 per share, though the price is down 41% over the last month. CEA’s stock popped to a 52-week high of nearly $83 per share in July when the company announced its BNB treasury move.
CEA Industries is currently the largest BNB treasury company and aims to own 1% of the total BNB token supply by year-end 2025, following the model of other digital asset treasury leaders like Strategy (Bitcoin) and BitMine Immersion Technologies (Ethereum).
“BNB’s all-time highs are a clear validation that the global markets are waking up to the inherent value, credibility, scale, and utility of both the asset and underlying ecosystem,” said CEA Industries CEO David Namdar, in a statement. “We view BNB not just as a token, but as the fulcrum of a massively integrated ecosystem.”
The token’s recent surge has come amid growing use of BNB-based perpetual futures exchange Aster, which has helped drive rising activity and user onboarding on BNB Chain.
“BNB’s recent rally has been largely driven by increased on-chain activity and growing institutional interest,” Illia Otychenko, lead analyst at CEX.IO, told Decrypt earlier Tuesday.
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