BNB Steady at $648 Before BSC Upgrade

BNB Holds Steady Ahead of Maxwell Hard Fork

Binance Coin (BNB) traded within a narrow range on Sunday, showing resilience amidst low volatility. This stability comes as the BNB Chain community prepares for the significant Maxwell hard fork upgrade to the BNB Smart Chain (BSC) mainnet.

The Maxwell hard fork, scheduled for June 30th, will drastically improve BSC performance. Block times will decrease from 1.5 seconds to 0.75 seconds, effectively doubling the network's throughput.

This upgrade builds on previous improvements, such as the Lorentz fork, which already reduced block times from 3 seconds. Maxwell positions BSC to compete directly with high-speed blockchains like Solana.

Key Improvements from the Maxwell Upgrade:

• Faster Block Times: Reduced from 1.5 seconds to 0.75 seconds.
• Enhanced Validator Coordination: Validators will serve longer block proposal turns (16 blocks per turn), and the epoch length is extended from 500 to 1000 blocks for better stability.
• Network Optimization: The per-block gas limit is halved to 35 million from 70 million to mitigate congestion and state growth. Faster block propagation (within 400 milliseconds) and improved synchronization for lagging nodes are also included.

The upgrade aims to balance speed and stability, benefiting the DeFi, GameFi, and enterprise blockchain sectors. Improved block finality and smoother validator participation are expected to drive adoption and developer growth within the BNB Chain ecosystem.

BNB Price Action (June 28-29 UTC):

• June 28 15:00 UTC - June 29 14:00 UTC: BNB rose from $646.29 to $650.25 (0.61% gain), with a trading range of $5.75 (0.89%).
• Key Support: Found at $647.11 on June 29, 02:00 UTC, with high volume (10,034 units).
• Resistance: Observed at $651.30 on June 29, 12:00 UTC.
• Session Peak: Briefly reached $651.07 at 13:23 UTC before retracting.
• Current Price (June 29, 21:24 UTC): $648.37

Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct thorough research before making any investment decisions.

Codeum Note: Codeum offers comprehensive blockchain security services, including smart contract audits, KYC verification, custom smart contract and DApp development, tokenomics and security consulting, and partnerships with launchpads and crypto agencies. Contact us to secure your project.