BNC Rings the Nasdaq Opening Bell, But BNB Continues to Face Pressure: Are Whale Funds Washing Out the Market or Distributing Their Holdings? On October 26th, BNC, a US-listed company with BNB digital asset reserves as its core strategy, held its Nasdaq opening bell ceremony, with CZ also present. Formerly known as CEA Industries, BNC is not a newly listed company, but rather uses its corporate reserve strategy to further connect BNB with traditional capital markets. This means traditional stock investors have another channel to indirectly participate in the BNB ecosystem, and it has also brought renewed attention to BNB's institutional narrative. However, the attention from the capital markets has not immediately translated into a sustained rise in BNB's price. According to the latest large order tracking data from AiCoin, BNB previously rebounded from $717.2 to around $745, before falling back again, with the latest price around $735. During this period, the amount of large-scale liquidation by major players was approximately $6.6 million, with a net outflow of $523,400. The long-short ratio is 0.87, indicating that some long positions are reducing risk, and the overall investment attitude remains cautious. Technically, the market has also weakened. The RSI has fallen back to around 33, and the MACD remains weak, indicating that short-term selling pressure has not yet been fully digested. However, whale fund data has not yet shown a significant increase in net outflows, suggesting that it is too early to simply conclude that major players are engaging in large-scale selling. Currently, BNB is more like a game between a rising long-term narrative and short-term fund caution. BNC's IPO reinforced the long-term logic of BNB entering the traditional capital market's view, but the IPO itself does not necessarily mean that new funds have flowed into BNB. What is truly worth observing is whether subsequent corporate reserve demand can be sustained and whether whales will resume actively increasing their holdings. In the short term, the focus should be on price performance around $735 and support in the $717 area. If the price rebounds above $748-$752, accompanied by net whale buying, the judgment of consolidation and accumulation will be more supported; conversely, if the rebound continues to be hampered, long positions are closed out, and the price falls below $717, further fund withdrawal should be anticipated. BNC's IPO brings long-term potential, but whether BNB can strengthen in the short term still depends on the actual flow of funds. Hot topics can drive market attention, but what truly drives sustained market trends is always capital and demand. Data Reference: AiCoin (Screenshot from October 27, 2026) | For market observation only, not investment advice. Do you think the BNC IPO will be a catalyst for the next round of BNB price increases, or just a period of consolidation after the short-term positive news has been priced in? BNB BNC Binance CZ AiCoin Whale Funds