Nano Labs has observed significant financial fluctuation, with shares rising as high as 15.23% and dropping by 22.3%, following its bold strategic moves in the crypto market. The firm has purchased a notable amount of
Binance Coin (BNB), investing $50 million initially, with plans to increase its holdings to $1 billion as part of a newly adopted Web3-focused strategy. This strategic accumulation aims to secure 10% of BNB's supply, giving rise to speculations of BNB as an institutional reserve asset. As a result, BNB's price surged 6% to $804, and it's now eyeing a $1,234 target.
Furthermore, Nano labs have initiated a
CNH-Pegged Stablecoin project in Kyrgyzstan, which has been approved by the local government. This undertaking is geared towards enhancing China-Kyrgyzstan economic cooperation and facilitating cross-border trade.
On the derivatives front, Coinbase has piqued the interest of institutional investors by offering Nano Bitcoin and Nano Ether futures. Other offerings include Nano XRP/SOL and Nano XRP futures, with plans to launch them in the US market on August 18.
However, despite these strategic moves, Nano Labs has experienced a decrease in its hardware revenue by 39%. The response, in part, has been to enhance its digital reserves, with the purchase of additional BNB tokens worth $50M, thereby expanding its reserves to approximately $160M.
Nano Coin News Analytics from Tue, 12 Nov 2024 08:00:00 GMT to Mon, 11 Aug 2025 09:54:35 GMT -
Rating 7
- Innovation 8
- Rumor -5
