BNB has dropped to $ 635 and weatheres a minced market as dealers support Maxwell Hard Fork and increasing geopolitical risk in the Middle East.
The token’s resilience comes as daily transactions on the BNB chain have risen from 8 million to 17.6 million since mid-May, according to Defillama data.
Scheduled for June 30, Maxwell fork fork is reducing blocking times from 1.5 seconds to 0.75 seconds and brings in a number of improvements. It is expected to improve transaction flow and user experience.
Investors also respond to increasing global uncertainty. Raw prices have risen more than 10% over the past week as the markets weigh the possibility of the United States entering the Israel-Iran conflict.
A shutdown of Iranian oil exports or the closure of the Hormuz Strait, reports Reuters, could lead oil to $ 130 per day. Barrel, warned analysts at Oxford Economics. It can potentially push us inflation to 6% and derail hope of betting this year.
In this environment, risk assets such as BNB can see a sale when investors move to risk-off positioning.
Overview of Technical Analysis
BNB acts within a narrow range between $ 635 and $ 646, with volume confirming a solid support base to $ 638, as confirmed by a tip in volume.
Repeated attempts to break through resistance near $ 644.5 – $ 645 failed, suggesting that sellers defend this zone, according to Coindesk Research’s technical analysis model.
A volume of Burst of 4,222.99 -Token’s earlier corresponded to a quick fall to $ 638, which strengthens this area as a level of support that has now been broken as quantities stalled for the weekend
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