BNB Holds Strong Above $616 as Maxwell Upgrade Spurs Network Surge
BNB is maintaining solid support above $616, buoyed by growing activity on the BNB Chain and heightened anticipation for its upcoming Maxwell upgrade.
Over the past 24 hours, BNB has risen by 2%, briefly pushing above $627 before settling near $616.55.
This momentum is fueled by a surge in BNB Chain usage, where daily transactions have climbed to 17.6 million—a near doubling since mid-May, according to DeFiLlama data.
Despite broader market caution stemming from geopolitical uncertainties and global trade dynamics, enthusiasm for the Maxwell hard fork is providing a lift to BNB. Scheduled for June 30, the upgrade aims to cut block times in half, from 1.5 seconds to 0.75 seconds, boosting the network’s competitiveness against faster blockchain rivals.
If buying interest continues, BNB could soon test resistance around the $650 mark, with potential upside toward $700 depending on adoption of the new improvements and evolving global events.
Technical Insights
- BNB remains in a well-defined uptrend, with robust trading volumes helping to secure key support at $616.55, as noted in CoinDesk Research’s technical analysis.
- A significant breakout occurred as prices surged past resistance at $624.59, reaching an intraday high of $627.85.
- Following a period of consolidation between $620 and $625, BNB broke out above $625.24, indicating possible movement toward the $630–$635 zone.
- The token advanced from $619.31 to $627.03, notching a 1.25% gain before easing slightly to around $621.60.
