$BNB Binance (BNB) Price Eyes $700 as Maxwell Hard Fork Sparks On-Chain Boom

The BNB price chart may have been relatively quiet since mid-May, but the data from the Binance Smart Chain (BSC) tells a different story. Over this period, daily transactions have surged from 8.1 million to an impressive 17.6 million.

Meanwhile, active addresses reached a remarkable milestone on June 20, climbing to 3.5 million from just 1.5 million in mid-May. These spike indicates a growing interest and adoption, as evidenced on these charts.

The sudden growth is factored, as BNB gears up for the upcoming Maxwell hard fork on June 30, which is building strong excitement for the network. It aims to enhance network performance by reducing block times from 1.5 seconds to just 0.75 seconds.

In addition, the BSC ecosystem boasts 5,756 decentralized applications with a staggering volume of $52.43 billion. This puts BSC as a leader, especially when compared to the Optimism (OP) mainnet, which has only 367 DApps and a volume of $285.36 million.

These developments are strengthening the case for BNB's utility in the crypto market. However, the pressing question remains: will these positive changes translate into a short-term price increase for BNB?