Nano Labs, a Nasdaq-listed technology firm based in China, has officially launched its Binance Coin (BNB) treasury program. The company has purchased 74,315 BNB in an over-the-counter transaction valued at $50 million. This acquisition marks the start of Nano Labs’ strategic move toward expanding its presence within the Binance ecosystem.

Nano Labs Commits $50M to BNB Treasury Reserves

In a recent press release, Nano Labs confirmed its acquisition of 74,315 BNB tokens at an average price of $672.45 per coin. The transaction was executed over the counter, reflecting a total outlay of $50 million. This move formally begins the company’s treasury operations focused on Binance Coin.

With this purchase, Nano Labs has increased its total digital asset holdings to $160 million. The company’s crypto treasury now includes Bitcoin and BNB, though it has stated that BNB will take priority moving forward. In June, Nano Labs disclosed plans to transform into a BNB Treasury company and is targeting up to $1 billion in BNB reserves.

The company also shared that it intends to hold between 5% and 10% of BNB’s total circulating supply over time. To meet its goal, Nano Labs plans to raise $500 million through private placements and convertible notes.

BNB Trading Volume Surges After Treasury Announcement

The announcement had an immediate effect on market activity. The volume of BNB increased almost to the level of 1 billion due to the news about the acquisition of Nano Labs. As the price of BNB increased, the stock price of Nano Labs decreased by 9.66 percent during the last 24 hours and reached the level of $7.95.

Although this level has fallen in the short run, the stock of the company has registered an upward growth of 109 percent in the last 30 days. The expansion is consistent with the changing crypto policy of the company and the fact that it has made several announcements to concentrate on tokens and digital assets, especially BNB.

BNB is the coin of Binance and the coin essential in the ecosystem of the Binance Smart Chain. The token has become popular in trading fee discounts and DeFi applications, as well as staking applications. The step of Nano Labs would indicate that the company might remain in this larger ecosystem in the long term.

Altcoin Treasury Strategies Gain Momentum Among Public Firms

Nano Labs is not alone as a publicly listed company this by it invests in altcoins to make treasury activities. Companies buying exposure into blockchain are also reportedly hoarding Ethereum and Solana, and other top altcoins. SharpLink Gaming already has 188,478 ETH in its Ethereum treasury, and this is only one of the treasuries in which the company is increasing.

A Bitcoin miner named BitMine also recently acquired Ethereum using more than $250 million. In the layer 1 chain, DeFi Development Corp invested 112.5 million in a bid to expand its shares in SOL in the Solana ecosystem. Other elements of crypto efforts involve Upexi and MemeStrategy building their own Solana stockpiles.

Throughout the current increase in interest in altcoins, Bitcoin is the most prominent treasury asset. Statistics indicate that Bitcoin treasury companies purchased 5,898 BTC in the last seven days, which is worth more than 500 million dollars. These purchases show that there is long-term interest in digital asset strategies by the institutions.