CEA Industries (BNC) has revealed it now holds 480,000 BNB tokens, a 15% increase from a previous disclosure, as the price of the BNB Chain’s native token rises to a new all-time high.
The company spent about $412.8 million to acquire the additional BNB at an average price of $860 per token, according to a Tuesday press release. BNB is currently trading at $1,303, down just a bit from a record high hit earlier in the session.
Combined with $77.5 million in cash, the firm’s total treasury is now near the $700 million mark.
The price of BNB has increased as activity on its blockchain has accelerated. Data from TokenTerminal shows it recorded 58 million monthly active addresses in September. Much of that growth has been linked to Aster, a new decentralized exchange that has seen its total value locked surge rapidly past $2.4 billion, according to DeFiLlama, while its trading volume for the month is near $200 billion.
BNB’s rise is also bolstered by technical integrations, specifically a new partnership with Chainlink to bring U.S. economic data onchain.
CEA Industries says it plans to accumulate 1% of the total BNB supply by the end of the year. Shares are higher by 7% in Tuesday’s trade.
