Altcoin Spotlight: AVAX and BNB Gain Massive Institutional Backing - Coinspeaker

Key Notes

• AgriFORCE has rebranded as AVAX One, aiming to raise $550M.
• The firm plans to accumulate over $700M in AVAX tokens.
• CEA Industries (BNC) filed for a $500M PIPE to expand its BNB treasury.

Avalanche

AVAX $31.45

24h volatility: 4.6%

Market cap: $13.30 B

Vol. 24h: $1.37 B

and Binance’s BNB

BNB $1 019

24h volatility: 3.1%

Market cap: $142.17 B

Vol. 24h: $3.18 B

token are emerging as the biggest winners in the race for institutional adoption.

The major backing for the two altcoins came from two publicly-listed companies amid AVAX crashing more than 6% and BNB dropping almost 4% in the past 24 hours, according to CoinMarketCap.

AVAX: First Publicly-Traded Avalanche-Focused Company

AgriFORCE Growing Systems Ltd (AGRI) unveiled plans to rebrand as AVAX One, becoming the first NASDAQ-listed company dedicated to Avalanche.

The company is preparing a $550 million capital raise strategy with the goal of accumulating over $700 million worth of AVAX tokens.

Related article: AVAX Price Eyes Rally to $50 Amid Avalanche ETF FilingAVAX One aims to be a public vehicle for investors seeking exposure to Avalanche, a blockchain that has already attracted top Wall Street players such as KKR, Apollo, and J.P. Morgan for tokenization projects, noted a press release.

Two-Layered Strategy

Currently secured by $6.2 billion in staked assets, Avalanche is increasingly viewed as an institutional-grade settlement layer for the next generation of finance.

CEO Jolie Kahn said that Avalanche is reshaping global markets, while Matt Zhang, founder of Hivemind Capital and nominee for Chairman of the Board, described AVAX One’s vision as building the “Berkshire Hathaway of the onchain financial economy.”

The company plans a two-layered strategy, i.e., short-term disciplined accumulation of AVAX and long-term onboarding of fintech businesses onto the Avalanche network.

ParaFi, Galaxy Digital, Digital Currency Group, Kraken, Republic Digital, HashKey Capital, and more than 50 other investors were involved, as per AgriFORCE.

BNB: $500 Million PIPE to Cement Market Leadership

Meanwhile, CEA Industries Inc., rebranded as the BNB Network Company, announced the filing of a $500 million common equity PIPE and up to $750 million in warrants, marking one of the largest institutional fundraising efforts for BNB.

In a letter to shareholders, CEO David Namdar drew parallels to Michael Saylor’s early Bitcoin strategy, framing BNC’s mission as compounding BNB ownership per share over the long term.

Since BNC began its treasury program in August, BNB has surged 35.6%, contributing to a 47.5% year-to-date gain.

Namdar highlighted BNB’s undervaluation despite its strong growth and confirmed BNC is purchasing BNB daily, backed by a $250 million share repurchase program to increase BNB concentration per share.

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