CEA Industries aims for $663 million through BNB acquisitions.

Recently, there have been remarkable developments in the cryptocurrency market. CEI Industries has managed to attract investor attention with its BNB purchases. The company announced that it holds 663 million dollars worth of crypto and cash assets, with a significant portion of this consisting of 480,000 BNB tokens. As of October 6, these tokens, acquired at an average cost of 860 dollars per BNB, are recorded to have a total value of 585.5 million dollars, while the cash reserve is reported to be 77.5 million dollars.

CEA’s goal was to own 1% of the BNB supply by the end of the year. This strategy emerges as an extension of the 500 million dollar private funding plan initiated in the summer and the ongoing BNB accumulation strategy. It is estimated that CEA has purchased an additional 91,112 BNB since the beginning of September, resulting in approximately 78 million dollars spent in the last month.

BNB, as the native token of Binance, is on track to break new records recently. With its strong momentum, BNB has surpassed the 1,320 dollars level, reaching a new all-time high. Ranked third by market capitalization after Bitcoin (BTC) and Ethereum (ETH), BNB has shown an approximately 30% increase in the past week, representing the best performance among the top 10 cryptocurrencies.

CEA’s BNB purchases have also reflected on the company's stock prices. After closing Monday with a 15% increase, BNC stock showed nearly a 8% rise in pre-market trading on Tuesday. CEA’s BNB purchases and BNB's market performance are considered significant developments for investors.