BNB Chain announced a major upgrade, the Pascal Hardfork, slated for March 20. The upgrade improves Ethereum Virtual Machine (EVM) compatibility, smart contract wallets, and developer flexibility.
This upgrade follows the recent Ethereum Sepolia Testnet upgrade to Pectra, highlighting the rapid pace of blockchain development.
BNB Chain Announces Pascal Hardfork
BNB Chain revealed the update in a post on X (Twitter), noting that the Pascal Hardfork will improve user experience and developer efficiency on the Binance Smart Chain (BSC).
One of its most significant implementations of the Pascal Hardfork is EIP-7702 (Ethereum Improvement Proposal 7702). The upgrade potentially puts the network at the forefront of EVM-compatible chains.
“This makes it [BNB Chain] one of the earliest chains to adopt this EVM upgrade,” the network stated.
According to the announcement, Pascal Hardfork will allow wallets to function as smart contracts. This would unlock several benefits, including delivering gasless transactions.
With this upgrade, users can pay for gas fees more flexibly, improving accessibility.
The Pascal upgrade will also deliver batch approvals and swaps, meaning transactions can be grouped. This would reduce costs and make DeFi interactions smoother.
Binance founder and former CEO Changpeng Zhao (CZ) acknowledged the Pascal upgrade, calling it an “Important Hardfork.” Meanwhile, BNB Chain hinted that beyond Pascal Hardfork, other upgrades are in the pipeline.
It cited the Lorentz Hardfork, slated for April 2025 and expected to deliver faster blocks at 1.5 seconds transaction speed.
Additionally, the Maxwell Hardfork, due in June 2025, would make the BNB Chain significantly faster, with a transaction speed of 0.75 seconds.
“Lorentz at 1.5s blocks? Solana already does 0.4s. But Maxwell at 0.75s… BNB’s roadmap is evolution on crack,” a user on X quipped.
In a broader context, this announcement comes only days after Ethereum’s Sepolia Testnet implemented the Pectra upgrade. BeInCrypto reported that this upgrade enhances Ethereum’s EVM functionality and smart contract capabilities.
Therefore, BNB Chain’s timing signals growing competition among blockchain networks.
Despite the positive developments, BNB price remains largely unaffected today.
However, BNB remains a more resilient asset among the top cryptocurrencies. The altcoin saw a 2% gain in the past month, while all the major tokens, such as Bitcoin, Ethereum, and Solana, saw double-digit losses.
Crypto whales are making quiet moves in Ethereum (ETH) and Optimism (OP), while accumulation remains stagnant—or even negative—across most other major coins. Between April 4 and 6, both ETH and OP saw a notable increase in large wallet holders despite a harsh market correction.
This behavior often signals early confidence from institutional players, hinting at potential reversals ahead. With ETH nearing $1,400 and OP trading at three-year lows, the next few days could be pivotal if whale accumulation translates into renewed bullish momentum.
Ethereum (ETH)
Between April 5 and April 6, crypto whales accumulated ETH. The number of Ethereum whale wallets—those holding between 1,000 and 10,000 ETH—increased from 5,340 to 5,388, signaling a quiet accumulation phase during the broader market correction.
Tracking these large holders is crucial, as their behavior often precedes major market moves; when whales accumulate, it can indicate growing confidence in the asset’s long-term value and hint at a potential trend reversal.
Number of Addresses Holding Between 1,000 and 10,000 ETH. Source: Santiment.
However, the recent uptick in whale activity suggests some optimism beneath the surface. If momentum shifts and ETH manages to reclaim $1,748, it could rise further toward $1,938 and, with a strong enough rally, even retest the $2,000 mark—restoring a key psychological and technical level for bulls.
Optimism (OP)
The number of Optimism whale wallets—holding between 10,000 and 1,000,000 OP—rose from 4,138 on April 4 to 4,151 on April 6, suggesting that large holders are accumulating despite the ongoing market correction.
This increase in whale activity may indicate long-term confidence in the project, even as the broader market faces heavy selling pressure.
In periods of uncertainty like now, such accumulation can be an early sign of a potential price reversal, as institutional or high-net-worth investors often act ahead of retail sentiment.
Number of Addresses Holding Between 10,000 and 1,000,000 OP. Source: Santiment.
Currently trading near its lowest levels in nearly three years, OP is under significant downward pressure. If the correction persists, the token could break below the $0.50 support level.
However, if the recent whale accumulation reflects a shift in momentum, OP could rebound to test resistance at $0.65.
A breakout from that level may open the path toward $0.77 and, in a stronger recovery, even retest $0.84.
Welcome to the US Morning Crypto News Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee to see what experts say about Bitcoin (BTC) amid prevailing market turmoil caused by Trump’s tariffs and broader macroeconomic events. BeInCrypto reported that the status of Bitcoin as a hedge against economic uncertainty is coming under scrutiny. Now this view is becoming increasingly tangled.
Bitcoin Price Closes In On $89,000 While Traditional Markets Slide
On Monday, the S&P 500 and Nasdaq extended their declines, while the US dollar index (DXY) also fell to a 3-year low. The turnout highlighted a divergence in performance between crypto and equities.
S&P500, Nasdaq, and US DXY price performances. Source: TradingView
“Only 6 times since the 1970s have the DXY and SPX fallen together: 70s stagflation, Gulf War, Greenspan hikes, the dot-com crash, 9/11… Buyback window opens Friday for US corporates,” VanEck Head of Digital Assets Research Mathew Sigel commented on X.
The selloff in equities came amid heightened political tension and renewed concerns over the Federal Reserve’s (Fed) independence. President Donald Trump escalated his criticism of Fed chair Jerome Powell.
“Powell’s termination cannot come fast enough!” the President wrote on Truth Social.
The post followed earlier remarks hinting at Powell’s potential removal, an idea reportedly being reviewed by Trump’s economic advisors.
Trump also suggested the economy would slow unless interest rates were cut immediately. The bone of contention between Trump and Powell is that while the president pushes for interest rate cuts, the chair advocates a more cautious stance.
Market reaction was swift:
The Dow Jones Industrial Average plunged 971.82 points (2.48%) to 38,170.41.
Nasdaq Composite fell 2.55% to 15,870.90.
The S&P 500 dropped 2.36% to close at 5,158.20.
The so-called “Magnificent Seven” tech stocks were hit hardest.
Tesla sank 5.8%
Nvidia slid more than 4%
Amazon and Meta both dropped around 3%.
Industrial heavyweight Caterpillar also lost 2.8%.
Meanwhile, Bitcoin is bucking the trend, steadily approaching the $89,000 threshold while traditional markets slide. A decisive move above this level could see the pioneer crypto hit the $90,000 target highlighted in Monday’s US Crypto News briefing.
Historically, Bitcoin’s performance has shown an inverse correlation with the DXY. This prompts speculation that a pivotal moment for the pioneer crypto may be on the horizon.
“The DXY has broken down to March 2022 levels. Bitcoin is back on the move,” highlighted analyst Ben Werkman.
BeInCrypto contacted Geoff Kendrick regarding the Bitcoin price outlook as traditional finance (TradFi) shows weakness. The Head of Digital Asset Research at Standard Chartered said Bitcoin’s resilience signals a shift in how investors perceive the digital asset.
In his opinion, the king of crypto is now increasingly seen as a hedge against risks in TradFi and US Treasuries.
“I think Bitcoin is a hedge against both TradFi and US Treasury risks. The threat to remove US Federal Reserve Chair Jerome Powell falls into Treasury risk—so the hedge is on,” Kendrick told BeInCrypto.
This sentiment aligns with a recent report when US 10-year treasury yields fell below 4%. The incident signaled a potential shift in Fed policy and sparked renewed interest in Bitcoin and other risk assets.
Sentiment is Improving for Crypto, Bitwise Europe Analysts Say
According to the Tuesday Newsletter from Bitwise Europe, the firm’s proprietary Cryptoasset Sentiment Index has flipped to a “slightly bullish” reading.
“At the moment, 8 out of 15 indicators are above their short-term trend. Exchange inflows and the BTC funding rate have both improved since last week,” Bitwise analysts noted.
Bitwise also noted a continued high correlation between Bitcoin and altcoins, which suggests that a surge in Bitcoin’s price could spill over to other tokens. According to the newsletter, around 20% of tracked altcoins outperformed Bitcoin over the past week.
On the TradFi side, Bitwise reported a marginal uptick in Cross Asset Risk Appetite (CARA), which rose from -0.59 to -0.43. CARA is the firm’s proprietary gauge of market sentiment across traditional asset classes.
While the CARA index is still subdued, it points to a modest rebound in risk appetite. This renewed interest aligns with Kendrick’s view that Bitcoin’s number one purpose in a portfolio is to hedge against risks to the existing financial system.
“Bitcoin’s number one purpose in a portfolio is as a hedge against risks to the existing financial system, due to its decentralized ledger, and this can play out via two routes, as private sector risks like the March 2023 SVB collapse and risks associated with the government sector, such as US Treasury risks,” Kendrick told BeInCrypto.
The Standard Chartered analyst said the current threat to the Fed’s independence via Powell’s potential replacement falls squarely into the second of these categories.
“In terms of what is measurable the current threat plays out via US Treasury term premium, which is now at a 12-year high, 10Y term premium,” he added.
