BNB drops to $635 as traders react to new tech changes and global tensions.
- BNB Chain’s daily transactions more than doubled since May
- Maxwell hard fork set to cut block times to 0.75 seconds
- Geopolitical risks pressure crypto prices
Maxwell Hard Fork Planned for June 30
BNB Chain will launch the Maxwell hard fork at the end of June. This update will make blocks faster by cutting block time from 1.5 seconds to 0.75 seconds. Developers say this change will improve the speed and experience of using the blockchain. The move shows that the team is focused on performance and keeping BNB Chain competitive.
The network’s usage is already growing. According to DeFiLlama, daily transactions jumped from 8 million in May to 17.6 million in June. That’s a clear sign more people are using the chain, even as the token’s price drops.
Price Movement and Market Reaction
BNB’s price has dropped to $635, a key support level, after facing resistance around $644.5. Technical analysis shows high trading volume near $638, meaning many buyers were active there. But now that level has been broken. Sales have slowed for the weekend, showing lower demand among traders.
Traders are watching closely to see if the hard fork helps turn around price momentum. If BNB stays below $638, it could see more selling. If it rebounds, it may test resistance again near $645.
Middle East Tensions Add Pressure
Outside of crypto, global events are adding stress to the market. Oil prices jumped over 10% this week. Experts worry that a stronger conflict between the U.S., Israel, and Iran could raise oil prices even more—possibly up to $130 a barrel.
This could hurt the economy by pushing U.S. inflation to 6%. That would make it harder for interest rates to come down this year. If rates stay high, risky assets like crypto usually fall, as investors move to safer choices. This behavior adds pressure on tokens like BNB.
Source: coindesk.com
