BNC Buys $160 Million in BNB Tokens, Sending Price Up 8%

Binance ecosystem giant BNC has made a bold move into the crypto world, investing $160 million to buy 200,000 BNB tokens. This purchase makes them the largest corporate holder of BNB globally. Following the announcement, prices for BNB surged by over 8% in just one week. The news marks a significant shift from traditional companies venturing into crypto; BNC has jumped right into a high-stakes bet on BNB, a token deeply integrated with the Binance ecosystem. The move was backed by a $500 million private investment round led by renowned firms like 10X Capital and YZi Labs, showcasing their strong confidence in the project.