Binance founder CZ cheered VAPE’s 550% Monday surge after CEA Industries raised $500M for its BNB Treasury initiative.
Changpeng Zhao (CZ), the creator of Binance, applauded Monday’s 550% increase in CEA Industries (NASDAQ: VAPE) following the company’s announcement of its BNB Treasury plan.
After yesterday’s trading session, CZ closed at $57.5, acknowledging the VAPE stock surge.
With daily trading volume above $3 billion, the price of BNB reached an all-time high of $860.
Changpeng Zhao Applauds CEA Stock Rally (VAPE)
After CEA Industries (NASDAQ: VAPE) closed a $500 million private investment in public equity (PIPE) deal with 10X Capital, backed by YZi Labs, the company’s stock price surged by more than 560% on Monday, July 28.
The agreement includes $100 million in BNB cryptocurrency and $400 million in cash.
Changpeng Zhao, a co-founder of Binance, became aware of this situation and couldn’t help but tweet about it.
“BNB’s power.” Additionally, it brings in additional money to purchase BNB,” Zhao added in his X platform remark.
Changpeng Zhao, the creator of BNB, emphasized the company’s expanding impact and pointed out its increasing momentum in the cryptocurrency sector.
In his most recent post, Zhao implied that the CEA Industries stock boom would produce a flywheel effect akin to MicroStrategy, in which additional capital inflows would cause more institutions to buy BNB, further driving the stock higher.
Changpeng Zhao’s cryptocurrency holdings have grown to an astounding $80 billion as the price of BNB has surged to all-time highs.
According to reports, the founder of Binance owns 94 million BNB tokens, or 64% of the total amount in circulation.
After a close battle last week in which the price of SOL jumped beyond $200, the altcoin has increased its advantage over rival Solana with the latest BNB rally.
Corporate Demand For BNB Treasury Is Growing
Recently, there has been an increase in the demand from publicly traded companies to construct a BNB Treasury.
Other Nasdaq-listed companies, besides CEA Industries, have committed a sizeable amount of their cash to increase their strategic BNB reserves.
Since CEA joined, the company’s commitment to BNB treasuries has risen to over $2 billion.
This demonstrates the growing institutional trust in the Binance ecosystem’s overall expansion.
The price of BNB may be poised for greater rises when institutional capital enters the market, with immediate goals of $1,000.
