CoinDesk 2025-06-23 15:47:01

BNB Sees Modest Gains Following Iran Strikes

BNB saw a modest gain of 2% in the past 24 hours, pushing past $627 before settling with firm support at $616.55. The move comes as the BNB Chain, the blockchain tied to BNB, saw its daily transactions nearly double to 17.6 million since mid-May, according to data from DeFiLlama . Crypto markets have been jittery amid escalating geopolitical tensions and shifting trade policies between major economies. One factor helping to buoy sentiment is the upcoming Maxwell hard fork , scheduled for June 30. If successful, it will reduce block times from 1.5 seconds to 0.75 seconds, potentially making the network more competitive with high-speed chains. If momentum continues, BNB may attempt to reclaim the $650 level and push toward $700. But much will depend on how users respond to the technical upgrades and how the geopolitical situation develops. Technical Analysis Overview BNB formed a strong uptrend, with notable volume support that helped establish a key support level at $616.55, according to CoinDesk Research's technical analysis model. The most significant breakout came as the price surged through resistance at $624.59 and reached the session high of $627.85. After several hours consolidating between $620 and $625, BNB broke resistance at $625.24, signaling potential for further upside into the $630–$635 range. BNB rallied from $619.31 to $627.03, adding 1.25% in a sharp upward move that reinforced bullish momentum, before seeing a decline to now stand at $621.6.