Institutional demand Nano Lab, a leading Web 3.0 infrastructure and product solution provider, acquired 45,684.9862 BNB through over-the-counter (OTC) transactions at an average purchase price of approximately US$764 per token.
With this acquisition, the company now holds approximately 120,000.00 BNB, acquired at an average purchase cost of US$707 per token, which is valued at approximately US$90 million. However, the company further looks to strengthen its BNB reserve by acquiring more tokens. With the company making this large acquisition, the BNB token price crossed above the $750 level after almost six months.
Nano purchased BNB token in vital time
One interesting fact that stood out in this acquisition is the timing of this large purchase. Nano Labs made this purchase just after the 32nd quarterly BNB token burn.
After completion of the burn, the project removed 1,595,599.78 BNB, worth about $1.024 billion, from circulation. Many crypto projects carry out this systematic approach of burning tokens to shrink the supply, and it would keep the price steady. With the burn and the acquisition, the token, which was seen hovering around the $750 level back in December 2024, is back above $750 after six months.
At the time of publication, BNB is trading at $799 after gaining about 15% during the course of the week. The trading volume has also increased by 5% in the last 24 hours, and it shows that more traders are interested in the token.
Will BNB Token hit $1,000?
The above chart shows BNB testing the 1:1 resistance level of the Gann chart. Once a token reaches the 1:1 level, it shows that the price is in perfect balance with the time, meaning that for every unit of time, the price rises by a unit.
With the increase in trading volume, the price may break the 1:1 level and climb ahead. When BNB crosses above the 1:1 level, it could signal bullish strength — price is rising faster than time is passing. It often indicates the asset has entered an uptrend with increasing momentum. If BNB holds above the 1:1 level, it could reach $1,000.
