Binance Coin (BNB) Breaks Through Reports… Uptrend Momentum on Purchase of US Listed Company

BNB has surpassed $850, setting a new all-time high. Analysis suggests that the upward trend is being driven by consecutive large-scale BNB purchase plans from NASDAQ-listed companies.

According to CoinMarketCap on the 28th, BNB recorded $851.98, a 6% increase from the previous day around noon, breaking its previous record high. After surpassing $800 for the first time last week, it continues a strong rally. Later, it partially gave back some gains and was trading at $842.83 as of 3:20 PM. Its market capitalization expanded to $117.3 billion (approximately 161.99 trillion won), rising to 5th place in the overall cryptocurrency ranking, surpassing Solana (SOL).

The price surge is backed by aggressive purchasing strategies from NASDAQ-listed companies. On the 24th, the US biotech company Windtree Therapeutics announced a plan to purchase up to $700 million worth of BNB. They plan to fully implement a BNB-centered financial strategy. The purchase funds will be raised through stock issuance, applying a strategy similar to MicroStrategy's approach of acquiring Bitcoin (BTC) as corporate assets.

Windtree stated, "If the funding plan meets shareholder approval and other conditions, Windtree will become the first NASDAQ-listed company to directly invest in BNB" and explained that this is to meet the demand of individual and institutional investors in the US seeking a regulated approach to the Binance ecosystem.

BNB is an exchange token issued by the world's largest cryptocurrency exchange Binance, used for various purposes within the Binance platform, including trading fee discounts (up to 25%) and participation in new token sales (IEO). It is emerging as an institutional portfolio asset following BTC and Ethereum (ETH) based on clear real-use cases.

NASDAQ-listed Nanolabs has also recently formalized a plan to purchase approximately $1 billion worth of BNB. Nanolabs aims to hold 5-10% of BNB's circulating supply in the long term. Changpeng Zhao, Binance's founder, stated on his X account on the 9th that "at least 30 companies are reviewing BNB financial strategies".

The periodic BNB circulation reduction (burning) has also acted as a price increase factor. Binance is aiming to reduce the total BNB supply from 200 million to 100 million through quarterly burns, and in the 32nd burn, approximately 1.59 million BNB worth about $1 billion were removed.

Cryptocurrency exchange Geotus recently reported that "the daily active address count of the BNB chain has more than doubled compared to March, and on-chain activity is at an all-time high" and analyzed that "BNB's all-time high is supported by clear fundamentals such as supply reduction, increased on-chain usage, and expanded institutional investment, rather than short-term speculative demand".

Reporter Kim Jung-woo