CEA Industries (BNC) has announced that it now owns 480,000 BNB tokens, representing a 15% increase from its previous statement, as the price of the BNB Chain’s native token reaches a new all-time high.
The firm invested about $412.8 million to acquire the extra BNB at an average price of $860 per token, according to a press release on Tuesday. BNB is currently trading at $1,303, slightly down from a peak achieved earlier in the day.
Along with $77.5 million in cash, the company’s total treasury is now approaching the $700 million milestone.
The rise in BNB’s price has been driven by increased activity on its blockchain. Data from TokenTerminal indicates that it recorded 58 million monthly active addresses in September. This growth is largely attributable to Aster, a new decentralized exchange that has seen its total value locked soar past $2.4 billion, according to DeFiLlama, with trading volume nearing $200 billion for the month.
The increase in BNB’s value is further supported by technical integrations, particularly a new partnership with Chainlink to bring U.S. economic data onchain.
CEA Industries aims to acquire 1% of the total BNB supply by year’s end. Shares saw a boost of 7% in Tuesday’s trading.
