Binance Coin (BNB), the native cryptocurrency of the BNB Chain ecosystem, reached a new high of $861.1 on Monday, July 28th, before experiencing a brief pullback. The reversal aligns with a broader market reversal, with some analysts believing the market participants are still recuperating their momentum for the next leap. However, the growing institutional interest in BNB coin signals that the long-term trend remains bullish, with the current pullback raising buy-the-dip sentiment.
CEA Industries Unveils $1.25B Institutional BNB Strategy
On Monday, July 28th, the NASDAQ-listed company CEA Industries, in collaboration with 10X Capital and supported by YZi Labs, announced a $500 million private placement to establish the largest publicly traded BNB treasury.
The announcement follows an oversubscribed and upsized above-the-market PIPE (Private Investment in Public Equity) offering, positioning the company as an institutional gateway to gain BNB exposure in the U.S. market.
The PIPE offering consists of a common equity PIPE delivering $500M in gross proceeds ($400 in cash and $100 in crypto), plus up to $750M in cash through exercise, which takes the potential proceeds to $1.25 billion. The proceeds would be used to buy BNB assets and leverage Binance’s global reach and ecosystem growth.
The fourth-largest cryptocurrency, Binance Coin, provides the treasury with an opportunity to generate income and rewards on the BNB Chain and Binance ecosystem through staking, lending, and transaction rewards within the BNB Smart Chain.
The press release also discloses a change in the company’s management team, with David Namdar expected to step in as CEO, Russell Read as Chief Investment Officer, and Saad Naja joining the executive team.
“BNB Chain is one of the most widely used blockchain ecosystems globally, yet institutional access has been limited until now. By creating a U.S.-listed treasury vehicle, we are opening the door for traditional investors to participate in a transparent way. This is a significant step in bridging digital assets and mainstream capital markets,” said incoming CEO David Namdar.
The announcement received overwhelmingly institutional and crypto-native interest, with over 140 subscribers joining the PIPE. The transaction is expected to close on or around July 31, 2025.
Channel Pattern Drives Steady Uptrend in BNB Price
In the last two weeks, the Binance Coin showcased a parabolic surge from $706.14 to a recent high of $861, accounting for a 22% growth. Interestingly, this recovery rally resonated strictly within two ascending trendlines, revealing a broadening channel pattern in the 4-hour chart. Amid the intraday selling, the BNB price has reverted to $826, signaling a post-rally correction in the market.
With sustained selling, the coin could breach the immediate support of $810 and plunge a total of 4% to test the channel bottom trendline at $790. Until the support holds, the Binance coin could continue its ongoing uptrend and recoup the bullish momentum for the next leap.
On the contrary, if sellers breach the bottom trendline with a four-hour candle closing, the current correction could extend lower.
Also Read: BlackRock’s $IBIT Bitcoin ETF Surges to 5 Most Traded ETF Today
