After a meteoric rise of the TRUMP token, all eyes are now on BNB. Binance's blockchain has just undergone a major update named "Maxwell", potentially game-changing. With increased transactions and bullish technical outlook, is BNB gearing up for a price explosion?
The Maxwell hard fork introduced on the BNB Chain testnet aims to speed up block production. The goal is to enhance the overall efficiency of the network. Now, a new block is generated every 0.75 seconds, compared to the previous 1 second, with support for 16 consecutive blocks. These improvements help smooth transaction processing and reduce congestion.
With this improved scalability, BNB Chain is positioning itself for wider adoption, especially in the DeFi, GameFi, and enterprise blockchain services sectors. Developers and validators are encouraged to test the new features introduced by the hard fork.
On-chain data from analytics firm Nansen indicates a 49% surge in transactional activity on the BNB Chain over a week. This marks the largest growth among major blockchains, surpassing networks like Aptos, NEAR Protocol, Stellar, and Sonic Labs in transaction growth.
This sustained activity is also reflected in the volumes traded on Binance Chain’s decentralized protocols (DEX), which have exceeded $100 billion over the last 30 days. For comparison, Ethereum recorded $67 billion and Solana $97 billion during the same period.
According to crypto analyst Cryptorand, the price of BNB recently broke out of a long-term downtrend that has been a resistance since December 2024. BNB was trading at $660 on Sunday, marking a 13% increase from the monthly low, but still below its monthly high of $692.
The key support level now lies between $600 and $620, a zone that previously acted as a consolidation point. On the resistance side, the $690 to $730 range is seen as a strong barrier, corresponding to the December 2024 peak.
With short-term support at $660, maintaining this level could enable BNB to aim for $720 again. However, a drop below $660 could lead to a correction towards $620. If the price falls below $600, analysts warn of potential support near $515-530, which held during the March 2025 correction.
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