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Institutional crypto demand has gone beyond Bitcoin.
The Canadian electronic cigarette manufacturer CEA Industries announced yesterday that it will implement a BNB treasury strategy, causing an explosion in the company's stock. The shares of the Nasdaq-listed firm increased by 800%, finishing the day with a 550% rise. The company aims to raise $500 million through stock sales. This figure could rise to $1.2 billion through additional sales. This means that over $1 billion could be spent on BNB purchases.
CEA Industries will collaborate with two companies on BNB purchases. One of these is 10X Capital, known for its investments in blockchain technology, and the other is Binance's investment arm, YZi Labs.
Stocks soared
CEA Industries' stock VAPE on Nasdaq rose by up to 800% after this announcement, closing the day with a 550% increase. The company's market value also reached approximately 48 million dollars.
As is known, companies have recently turned to not only Bitcoin but also cryptocurrencies like Ether and Solana. Companies like SharpLink Gaming and Bitmine have made a name for themselves with Ether; while those like DeFi Development have gained recognition with Solana purchases.
CEA Industries has also recently made a name for itself in this regard with BNB.
The BNB, the cryptocurrency of the Binance exchange, had set a new record by surpassing 860 dollars yesterday.
Published: July 29, 2025 13:02Last Updated: July 29, 2025 13:06