Key Takeaways
Why is BNC’s position in BNB significant for Q4?
BNC’s BNB stack is primed to compound, backed by strong on-chain growth and institutional conviction.
How does BNB’s recent performance set the stage for further gains?
BNB outpaced its peers in September, setting it up for a possible $40B market cap gain by year-end.
CEA Industries [NASDAQ: BNC] expanded its Binance Coin [BNB] bet after an early-August $500 million PIPE deal netted 418,888 BNB.
That position, now worth about $418 million, showed nearly $50 million in unrealized profit.
BNC doubles down on BNB
Technically, the BNC stack jumped 13.8% since the August buy-in, while BNB itself is up 25%.
In short, BNC’s position is firmly in the green and looking solid. But this is just the beginning.
The company made it official on the 22nd of September, disclosing its S-3 registration for up to $750 million in additional warrants, giving BNC a total of $1.25 billion in dry powder to keep scaling its BNB stack.
Source: X (Formerly Twitter)
In short, BNC positions its play to compound into BNB’s Q4 momentum.
Backing that, CEO David Namdar said in his shareholder letter that BNB was a high-conviction dip play, with ROI already validating the move and setting up the next leg higher.
“Our mission is straightforward: to compound BNB per share for our shareholders over the long term…We purchase BNB every day, and we have significant dry powder available to continue building our treasury.”
BNC inflows converge with BNB’s on-chain growth
Binance Coin emerged as September’s top performer.
At press time, BNB’s ROI sat roughly 2x above Solana [SOL], while Ethereum [ETH] and Ripple [XRP] lagged at -6% and +8%.
Supporting this, the SOL/BNB ratio fell 6.67% in September, showing BNB’s edge over its top L1 rival.
Source: TradingView (SOL/BNB)
This dominance showed up on-chain, too.
In September, BSC raked in $907k in fees, while SOL’s fees slid 16.26% to $1.03 million, nearly converging with BSC.
Against this backdrop, CEO David Namdar said BSC could overtake other high-cap L1s next.
“BNB is one of the largest, fastest-growing, and most liquid cryptocurrencies in the world, with a market capitalization of over $146 billion – having already surpassed Solana, and we believe it will overtake XRP and eventually Ethereum.”
Is that too far-fetched?
With BNB stacking “relative” strength on BNC’s balance sheet and capital anchored in strong fundamentals, Binance Coin’s institutional play could just be getting started.
In this context, Binance Coin’s Q4 upside looks well-supported and primed to compound. If it reruns its Q3-style rally, another $40 billion market cap lift could vault BNB into the fourth-largest crypto spot by year-end.
