During the current downturn in the cryptocurrency market, an important network update for Terra Luna Classic (LUNC) has been announced. This update, officially supported by Binance, includes technical improvements and security enhancements. The update is scheduled to be implemented on February 25, 2025, and during specific hours, deposits and withdrawals will be temporarily halted. This initiative, supported by the majority of the community, aims to make the LUNC ecosystem safer and more efficient.
Binance has declared its full support for the upcoming update on the Terra Luna Classic network. On February 25, 2025, at 14:00 UTC, deposits and withdrawals of LUNC will be temporarily suspended on the exchange. However, users will still be able to trade, and deposit and withdrawal services will resume once the network stabilizes.
According to Binance’s announcement, the company will handle all technical requirements during the update period. Transactions involving LUNC and related tokens will not be affected. This demonstrates Binance’s long-term commitment to the Terra Luna Classic ecosystem and could have a positive impact on the market.
The v3.4.0 update for the Terra Luna Classic network includes various technical enhancements. The aim is to improve network efficiency by removing fork modules and updating software logic. Security patches will also be applied to critical systems such as Wasmvm and CometBFT, ensuring a more stable network and addressing security vulnerabilities.
The community has widely accepted the “Terra – 4834 | Msg Software Upgrade v2.15.0,” which will also be part of this process. Validators are required to upgrade their Go versions to 1.22.12 before the update. Deposit and withdrawal services will be reactivated once the update is complete and the network stabilizes.
After the update, the Terra Luna Classic ecosystem is expected to have a stronger infrastructure. Along with technical innovations, market developments indicate the potential for an increase in LUNC’s price. Traders are closely monitoring the update process and Binance’s support.