BNB Remains Steady at $648 Ahead of Maxwell Hard Fork Upgrade
BNB traded within a narrow range on Sunday, indicating resilience amid low volatility as the BNB Chain community prepares for the Maxwell hard fork upgrade on June 30. This upgrade aims to enhance the BNB Smart Chain (BSC) by reducing block times from 1.5 seconds to 0.75 seconds, effectively doubling throughput potential.
The Maxwell upgrade follows earlier enhancements like the Lorentz fork, which previously reduced block time from 3 seconds and improved stability. Key components of the upgrade include:
- Implementation of BEP-524, BEP-563, and BEP-564 proposals
- Longer block proposal turns for validators (16 blocks per turn)
- Extended epoch length from 500 to 1,000 blocks
- Halved per-block gas limit from 70 million to 35 million
- Faster block propagation among validators (within 400 milliseconds)
This upgrade targets improved responsiveness and smoother validator participation, potentially increasing BNB Chain's competitiveness in DeFi, GameFi, and enterprise blockchain sectors.
Technical Analysis Highlights
- BNB increased from $646.29 to $650.25 between June 28 and June 29, marking a 0.61% gain.
- Key support identified at $647.11 with above-average trading volume of 10,034 units.
- Resistance at $651.30 limited further gains, with notable volume spikes confirming buyer interest.
- BNB experienced a slight dip from $650.85 to $650.25 on June 29.
- As of June 29 at 21:24 UTC, BNB traded at $648.37, below resistance near $651.