Binance to Support Terra Classic (LUNC) Network Upgrade on September 18, 2024

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.

Image
source:
Shutterstock