Binance Supports Terra Classic (LUNC) Upgrade on Sept 18, 2024

As a key player in the cryptocurrency exchange industry, Binance has officially shared its backing for the upcoming Terra Classic (LUNC) network upgrade. The upgrade is set to commence on September 18, 2024, around 10:15 (UTC).

Effects on Deposits and Withdrawals

To support this upgrade, Binance will temporarily halt deposits and withdrawals of tokens on the Terra Classic network starting from the specified time. Nevertheless, trading of tokens on this network will remain unaffected. Binance has pledged that it will manage all technical processes necessary for the upgrade.

Details of the Network Upgrade

The upgrading of the Terra Classic network will take place at block height 19,850,000, anticipated around 11:15 (UTC) on the same day. The exchange has communicated that deposits and withdrawals will continue once the upgraded network is confirmed to be stable. No further notices are expected regarding the resumption of these services.

Assurances for Users and Technical Preparations

Binance is focused on delivering an uninterrupted experience for its users during this upgrade. The exchange has assured that it will address all technical considerations related to the upgrade, thus minimizing possible inconveniences for its users. Binance has also mentioned that variations may occur in the translated announcements and recommends users consult the original English version for the most precise information.

Community and Market Reactions

The news has generated significant enthusiasm within the Terra Classic community, who are eager to witness the advancements resulting from the network upgrade. This upgrade is anticipated to improve the overall functionality and security of the Terra Classic network, potentially leading to favorable effects on the token’s market performance.

For additional information, please see the official announcement from Binance.

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