Binance, one of the world’s leading cryptocurrency exchanges, has announced its support for the upcoming Terra Classic (LUNC) network upgrade. According to an official announcement from Binance, the upgrade is scheduled to take place on September 18, 2024, at approximately 10:15 (UTC).

Impact on Deposits and Withdrawals

To facilitate this upgrade, Binance will temporarily suspend deposits and withdrawals of tokens on the Terra Classic network starting at the aforementioned time. However, the trading of tokens on the Terra Classic network will not be impacted. Binance has assured its users that it will handle all technical requirements involved in the upgrade.

Network Upgrade Details

The Terra Classic network upgrade will occur at the block height of 19,850,000, which is expected to be around 11:15 (UTC) on the same day. The exchange has indicated that deposits and withdrawals will resume once the upgraded network is deemed stable. No further announcements are expected regarding the reopening of these services.

Technical and User Assurance

Binance aims to ensure a seamless experience for its users during this upgrade. The exchange has committed to managing all technical aspects related to the upgrade, thereby minimizing any potential disruptions for its users. Binance also noted that there might be discrepancies in the translated versions of the announcement and advised users to refer to the original English version for the most accurate information.

Community and Market Reactions

The announcement has been met with interest from the Terra Classic community, eager to see the improvements brought by the network upgrade. The upgrade is expected to enhance the overall functionality and security of the Terra Classic network, which could positively impact the token’s performance in the market.

For more details, please refer to the official announcement from Binance.

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