BNC fell 15.62% at the U.S. market close before rebounding 2.71% after hours to $4.55, according to BIT (bit.com) data. B.TOP founder Jiang Zhuoer said he bought a 5% trial position near $4.5 after the stock reached a $4.4 support line, with downside potentially extending to the $4 starting point. He said BNC's mNAV (market value relative to net assets) was about 49%, while the company held $400 million worth of BNB and had a market capitalization below $200 million, effectively offering BNB at a 50% discount. Jiang added that a successful BNC-and-Meme flywheel would be an unexpected bonus. GMGN data showed BNC4, an on-chain token associated with BNC on BSC (BNB Smart Chain), at $5.584, representing an approximately 23% premium to the underlying stock.