Binance Smart Chain’s Maxwell Hard Fork Fuels BNB Price Surge Toward $700

Binance Smart Chain (BSC) is experiencing a significant uptick in on-chain activity as the highly anticipated Maxwell hard fork approaches on June 30. Key metrics show daily transactions have more than doubled from 8.1 million in mid-May to 17.6 million currently, while active addresses have surged by 133% to reach 3.5 million. This increased activity comes as the upgrade promises to reduce block times by 50% to just 0.75 seconds, potentially solidifying BSC's position as a leader in decentralized infrastructure. The network improvements and growing adoption are creating bullish momentum for BNB, with the cryptocurrency's price eyeing the $700 mark. As the hard fork date nears, the Binance ecosystem continues to demonstrate strong fundamentals and developer interest, positioning BSC for potential long-term growth in the competitive blockchain space.

BNB Price Eyes $700 as Maxwell Hard Fork Sparks On-Chain Boom

Binance Smart Chain (BSC) is witnessing a surge in activity ahead of the Maxwell hard fork scheduled for June 30. Daily transactions have more than doubled since mid-May, climbing from 8.1 million to 17.6 million, while active addresses reached 3.5 million—a 133% increase.

The upgrade promises to slash block times by 50% to 0.75 seconds, potentially cementing BSC's position as a leader in decentralized infrastructure. The network currently hosts 5,756 DApps with $52.43 billion in volume, dwarfing competitors like Optimism's 367 DApps and $285 million volume.

Developer activity has surged alongside adoption, with Santiment's metric jumping from 0.5 to 0.923 in June. Market watchers now speculate whether these fundamentals will catalyze BNB's breakout toward $700.

BNB Tests Key Support Amid Maxwell Upgrade and Geopolitical Tensions

BNB has dipped below critical support at $635, navigating turbulent market conditions as traders anticipate the Maxwell hard fork and escalating Middle East tensions. The token's resilience contrasts with surging transaction volumes on BNB Chain, which have more than doubled to 17.6 million daily since mid-May.

The June 30 Maxwell upgrade promises to halve block times to 0.75 seconds, enhancing throughput and user experience. Meanwhile, crude oil's 10% weekly surge reflects growing fears of US involvement in Israel-Iran conflicts. Analysts warn $130 oil could reignite inflation to 6%, jeopardizing rate cut expectations.

Technical indicators show BNB consolidating between $635-$646, with strong volume-backed support at $638. Repeated rejections at $644.5 resistance confirm seller dominance in the upper range.