BNB Slides Beneath Critical Support as Maxwell Upgrade Nears and Middle East Risks Loom

BNB has slipped to $635, feeling the weight of a choppy crypto market as traders eye the upcoming Maxwell hard fork and growing geopolitical risks in the Middle East.

Despite the decline, activity on the BNB Chain has been climbing steadily. Daily transactions have surged from 8 million to 17.6 million since mid-May, based on data from DeFiLlama, pointing to strong underlying network use.

The Maxwell upgrade, slated for June 30, is expected to halve block times from 1.5 seconds to 0.75 seconds while introducing several improvements aimed at increasing transaction throughput and enhancing user experience.

At the same time, global markets are grappling with uncertainty. Crude oil prices have surged more than 10% in the past week amid concerns the United States might be drawn into the Israel-Iran conflict.

Analysts at Oxford Economics warn that a disruption to Iranian oil exports or a closure of the Strait of Hormuz could propel oil prices as high as $130 per barrel, potentially driving U.S. inflation up to 6% and jeopardizing hopes for Federal Reserve rate cuts later this year.

In such an environment, risk assets like BNB often face pressure as investors shift toward safer bets.

Technical Snapshot

• BNB is trading in a tight range between $635 and $646, with significant trading activity confirming support around $638.
• Attempts to push past resistance near $644.5–$645 have repeatedly failed, suggesting that sellers are firmly defending that level, according to CoinDesk Research’s technical analysis.
• Earlier, a volume spike of 4,222.99 BNB coincided with a sharp drop to $638, cementing that price area as a key support zone—though weekend volume has since tapered off, leaving it vulnerable to further tests.