BNB Chain saw a spike in the number of transactions as analysts point to the upcoming Maxwell hard fork as a potential catalyst for another bullish breakout.
BNB Chain has just witnessed its most active week in over a year, recording an impressive 123 million transactions in the past seven days. It also saw a trading volume of $178.2 billion in May, suggesting strong user engagement and network usage.
The surge in activity coincides with growing anticipation around the upcoming Maxwell hard fork, expected to improve transaction finality and efficiency. Popular crypto YouTuber Ghazi commented on X that BNB Chain’s transaction count could double once Maxwell goes live.
.@BNBChain just had its most active week in a year!
✅ Over 123 million transactions in 7 days!
And with the Maxwell hard fork coming soon bringing faster finality and major efficiency, that number could 2x very soon.
Bullish on #BNBChain @cz_binance 🔥 pic.twitter.com/ecyvktIQuH
— غازي – Ghazi (@Q8Three) June 4, 2025
The Maxwell hard fork will integrate artificial intelligence components and other scaling improvements, enhancing BNB Chain’s competitiveness.
Despite the broader market downturn in Q1 2025, BNB showed resilience after last year’s 300% rally. While many altcoins saw sharper corrections, the cryptocurrency’s drawdown remained under 36%, and it continues to consolidate without major losses.
Bnb price outlook
At the time of writing, BNB BNB $647.8 24h volatility: 0.8% Market cap: $94.51 B Vol. 24h: $636.24 M is trading at around $669.6, up by 12% in the past month. Since April, the cryptocurrency has been moving within an ascending parallel channel and is now testing the lower boundary of that support zone.
$BNB is still looking insanely bullish.
Ignore short term price action and focus on long-term trends! pic.twitter.com/pQMWmSghH1
— Coinvo (@ByCoinvo) June 4, 2025
Crypto analysis platform Coinvo noted the recent pullback, suggesting that the ongoing consolidation could be the calm before another bullish wave. They stated that BNB is “still insanely bullish,” urging traders to focus on long-term patterns.
On the daily BNB price chart, the RSI is currently at 56, providing room for a move in either direction. Bulls remain in control as long as the price stays within the ascending channel and holds above key support at $640.
BNB price chart with RSI and Bollinger Bands | Source: TradingView
Bollinger Bands show a contraction pattern, with the price trading near the middle band (20-day SMA0 at $665, suggesting a potential breakout. A close above the upper band at $690 could result in a fresh bullish momentum.
BNB price chart with MACD | Source: TradingView
Meanwhile, the MACD is currently bearish, with the MACD line below the signal line and both trending downward. However, the flattening histogram shows weakening bearish momentum. A crossover could send BNB to challenge its all-time high at $794.
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