BlockBeats reported on Sept. 10 that BTC.TOP founder Jiang Zhuoer said U.S.-listed BNC had fallen to its $4.4 support level and that he had opened a trial position of 5% around $4.5. He said the stock could fall as far as $4, which he described as the starting point of the previous move. Jiang added that BNC’s mNAV was about 49% and that the company held $400 million worth of BNB while its current market capitalization was below $200 million, which in his view meant investors were effectively buying BNB at a 50% discount through BNC. He also said that if the "BNC + Meme" flywheel worked, it would be an upside surprise. Separately, BIT (bit.com) market data showed BNC closed down 15.62% and rebounded 2.71% in after-hours trading to $4.55. GMGN data showed that BNC4, the tokenized stock on BSC, was quoted at $5.584, implying a premium of about 23% over the underlying stock.
BlockBeats reported on Sept. 10 that BTC.TOP founder Jiang Zhuoer said U.S.-listed BNC had dropped to its $4.4 support line and that he had bought a 5% trial position at around $4.5. He said the stock was expected to fall at most to $4, which he described as the starting point of the earlier rally.
Jiang said BNC’s current mNAV was about 49%. He added that the company held $400 million worth of BNB while its market capitalization at the current share price was below $200 million, which he described as "buying BNB at a 50% discount." He also wrote that if the "BNC + Meme" flywheel proved effective, that would be an unexpected bonus.
Separately, according to BIT (bit.com) market data, BNC closed down 15.62% in U.S. stock trading and then rebounded 2.71% after hours to $4.55. GMGN data showed that BNC4, the tokenized stock on BSC, was quoted at $5.584, putting the tokenized share at about a 23% premium to the underlying stock.
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