Online reported that on Tuesday, Nano Labs, a publicly listed blockchain infrastructure provider in China, announced a short-term plan to purchase US$1 billion worth of BNB. The company plans to store the huge amount of tokens in the company's vault and said it ultimately plans to hold 5% to 10% of BNB's total circulation-a staggering token holdings worth between $4.7 billion and $9.4 billion at current prices. After the investment plan was announced early today, Nano's share price surged nearly threefold in an instant, from US$10.89 to US$29.18, completing the increase within minutes of the market opening. The stock's final closing price was $14.85, still up 64.8% for the day.