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BNB Maxi? Chinese Companies Are Secretly Betting Billions On BNB Crypto

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Nano Labs, a Nasdaq-listed Chinese blockchain player, just dropped a headline into BNB with a hefty crypto investment plan. This is big, and for good reason. It’s not every day a big firm flexes on a coin that’s not BTC or ETH. Naturally, CZ maxis are eyeing BNB’s price, waiting this news to nudge it up a notch or two.

Big institutional bets like this tend to pump a coin, especially with 1 billion. When a big player splashes cash on a coin, demand ticks up, and prices will be priced in.

Nano Labs’ stock has already soared over 100% after the announcement, and this alone is a good indicator of what will come for BNB. Money will likely spill over with some price fireworks to follow.

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BNB Crypto Price Dance: Nano Binance Tango

How big is this news? Nano Labs is scooping up to $1 billion in BNB Maxi? Chinese Companies Are Secretly Betting Billions On BNB Crypto - ExpertFX SchoolBNB ▲1.18% using a $500 million convertible notes deal. These notes will mature in 360 days and can flip into shares at $20 apiece. A clever way to raise cash without diluting their stock right off the bat. It is reported that Nano is targeting 5-10% of BNB’s total supply for their treasury stash.

The notes are unsecured, with no collateral to back the company, and also with no interest ticking. If all goes smooth, Nano Labs will pay back their investors principal by next year.

Nano’s move to snag a chunk of BNB’s supply will tighten its crypto supply, which will then lead to a price rally.

People are calling this “huge” for institutional crypto moves. CZ gave it a thumbs-up, hyping BNB.

We predicted a buying spree as the news sinks, especially for short term. In the long term, this Nano’s move could spark more big institutional players to jump in, giving BNB a steady climb.

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Price Impact and What to Expect

It looks good for BNB when you zoom in on its crypto price chart. It’s on an uptrend, sitting pretty high at above $640, and doing better than most alts this bull cycle. This past 1 year, it has climbed, outperforming coins like ETH and being one of the big alts that blast past their 2021 ATH.

Binance Coin
Price
Market Cap
BNB
$95.51B
24h7d30d1yAll time

Technically BNB is at above key moving averages, with 10-period SMA on the 1-hour chart and 10-period EMA on the 1-day chart, bullish. The RSI is above 50, supporting this trend with some more room for a pump.

Coupled with Nano Labs $1 billion news, BNB will likely climb higher. With Nano Labs’ buying spree ramps up, we might see it test that $687 high again.

Nano Labs, with its big BNB bet, is likely to give a short-term price pop, attracting buyers. Technical keys back this up and could push it higher, maybe even past recent peaks.

BNB is a coin to watch, even when people move and try to satisfy their gambling addiction to Solana.

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Key Takeaways

  • A Nasdaq-listed Chinese blockchain player just dropped a headline into BNB with $1 billion crypto investment plan.
  • BNB Crypto price dance, a Tango between Nano Labs and Binance.
  • Price impact and what to expect.

The post BNB Maxi? Chinese Companies Are Secretly Betting Billions On BNB Crypto appeared first on 99Bitcoins.

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