CEA Industries (BNC) revealed that it now holds 480,000 BNB tokens, a 15% increase from a previous disclosure, as the price of the BNB chain’s native token hits a new all-time high.
The company spent approximately $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 a bit from a record hit earlier in the session.
Combined with $77.5 million in cash, the company’s total treasury is now close to the $700 million mark.
The price of BNB has increased as activity on its blockchain has accelerated. Tokenterminal data shows that it recorded 58 million monthly active addresses in September. Much of that growth has been tied to Aster, a new decentralized exchange that saw its total value locked quickly surpass $2.4 billion, according to DeFillama, while its trading volume for the month is nearly $200 billion.
The rise of BNB is also bolstered by technical integrations, particularly a new partnership with ChainLink to bring us economic data.
CEA Industries says it plans to accumulate 1% of the total BNB supply by the end of the year. Shares are 7% higher in Tuesday trading.
