Chinese Web3 infrastructure firm Nano Labs Ltd has taken a bold leap into the Binance Coin (BNB) ecosystem by acquiring 74,315 BNB tokens worth around $50 million in an Over-The-Counter (OTC) deal. The average price per token stood at $672.45, a premium investment that signals the firm’s growing commitment to BNB.
This strategic purchase pushes its ’ total crypto reserves to approximately $160 million, composed of major assets like Bitcoin and BNB. However, the company made it clear—this is only the beginning. Nano Labs plans to expand its BNB holdings up to $1 billion through private transactions and convertible notes in the near future.
Their long-term vision? To control 5% to 10% of BNB’s total circulating supply—a move that would position Nano Labs among the largest BNB holders globally.
For those unfamiliar, Nano Labs is a Chinese tech firm developing Web3 infrastructure and high-performance computing chips like their “Cuckoo” GPU-alternative series. Their recent moves suggest not just a financial strategy, but a deeper integration into the Binance ecosystem.
Meanwhile, BNB is currently trading at $664.10, up 0.91%, with a market cap of $93.56 billion. Nano Labs’ investment could further boost investor confidence in BNB as it strengthens its utility beyond just trading.
You might also like : Ethereum Community Foundation Launches With ETH Burn Mission, Eyes $10K ETH