BNB's Largest Treasury Company BNB Standard to List: Can BNB Break the $800 Mark?

TradingKey - BNB Standard, the largest BNB treasury company, is set to list soon. Can the BNB price surge past the $800 mark in one go?

On October 21, Binance Coin (BNB) extended its rally, gaining about 2% today to break above $740. On October 18, dragged down by the broader market, BNB's price nearly lost the $700 mark, but subsequently continued to rise following BNB Chain's 37th burn, gaining over 5% cumulatively over the past four days. So, can BNB successfully break through and hold above the $800 mark?

Standard Corporation (BNC) is the world's largest BNB treasury company, similar to MicroStrategy (MSTR). According to the latest financial reports and filings, BNB Standard's treasury holds a total of 515,544 BNB, accounting for approximately 0.4% of BNB's total global circulating supply.

It is reported that Standard Corporation will ring the Nasdaq opening bell next Monday (October 26). Following its listing, the company will be able to raise funds through additional stock offerings and convertible bond issuances in the U.S. stock capital market, continuously accumulating BNB in large volumes via the open market and OTC.

If the company launches a new asset financing plan worth hundreds of millions of dollars post-listing and accumulates BNB in the open market, it will create a strong dual lock-up and supply-demand squeeze effect together with BNB Chain's own quarterly deflationary burns, serving as one of the core sources of institutional buying pressure pushing BNB past the $800 mark.

From a technical perspective, BNB's price will face resistance at $750 during its ascent, which is the midpoint of the range-bound oscillation over the past two months and the high of October's rebound. If BNB can effectively break through this level, there is a high probability of a further rise to the $800 threshold.

BNB price chart, source: TradingView

However, if the market experiences a risk-off pullback triggered by a surge in U.S. Treasury yields, cryptocurrencies as risk assets will be dragged down, and BNB may retreat to $700 again. Nevertheless, there is extremely strong buying support here, making a breakdown unlikely.