CEA Industries (BNC) has revealed that it currently holds 480,000 BNB tokens as the price of the BNB Chain’s native token rises to an all-time high. This is a 15% increase from the previous disclosure.
According to a press release on Tuesday, the company spent approximately $412.8 million to acquire additional BNB at an average price of $860 per token. BNB is currently trading at $1,303, down slightly from the high it hit earlier in the session.
Combined with $77.5 million in cash, the company’s total financials now stand at nearly $700 million.
As activity on the BNB blockchain accelerates, the price of BNB has increased. According to Tokenterminal data, the number of monthly active addresses hit 58 million in September. Much of that growth is tied to Aster, a new decentralized exchange, with total locked up rapidly surging to more than $2.4 billion while trading volume reached nearly $200 billion for the month, according to DeFiLlama.
BNB’s rise has also been strengthened by technological integration, particularly a new partnership with Chainlink to provide US economic data on-chain.
CEA Industries said it plans to accumulate 1% of total BNB supply by the end of the year. Shares rose 7% in Tuesday trading.
