BNB is holding its ground at $818, up 1% in the past 24 hours and 8% over the past week, as corporate interest in the token hits new heights. The move comes on the back of a $160 million purchase by BNB Network Company (BNC), adding fuel to an already strong monthly rally.
📈 A Solid Climb Toward 2025 Highs
BNB has been on an 18% upswing over the past month, trading between $747 and $825 in the last week. Market depth data shows solid buy-side demand above $800, while both spot volume and derivatives open interest rose over the weekend a sign that traders are gearing up for another possible move higher.
💰 BNC’s Big Bet on BNB
On August 10, BNC (formerly CEA Industries) revealed it had bought 200,000 BNB tokens, worth around $160 million. The purchase follows a $500 million private placement backed by YZi Labs and 10X Capital.
The goal? To make BNB the company’s primary reserve asset. With this acquisition, BNC now holds more BNB than any other publicly listed company. If all existing warrants are exercised, the firm could commit up to $1.25 billion to BNB.
Adding to the momentum, BNC has brought in Galaxy Digital co-founder David Namdar as its new CEO to lead the company’s BNB-focused corporate strategy.
📊 Technical Outlook
BNB’s chart paints a bullish picture:
- Trading above all major moving averages from the 200-day SMA at $650 to the 10-day EMA at $791.
- Bollinger Bands are widening, with the upper band near $837 acting as immediate resistance.
- RSI sits at 65.88, just below overbought levels, suggesting there’s still room for upside before buyer fatigue sets in.
Momentum indicators, including the 10-day Momentum and MACD, remain in buy territory, reinforcing bullish sentiment.
🔍 Levels to Watch:
- Upside: A clean break above $825 could open the door to $850–$875.
- Downside: If resistance holds, prices may pull back to $790, with stronger support near $750.
🎯 Bottom Line
With a major corporate buyer stepping in, bullish technicals, and solid market interest, BNB looks well-positioned for a decisive move. Whether it pushes toward new highs or consolidates, its performance in the coming weeks could set the tone for the rest of August.
