Binance, the world’s largest cryptocurrency exchange, announced its direct support for the upcoming software upgrade of the Terra (LUNA) network. As part of preparations for this technical step, the platform has added a timeline showing the upgrade’s impact on deposit and withdrawal services.
Operational details and the upgrade timeline
Deposit and withdrawal suspension: The temporary halt of deposit and withdrawal operations on the Terra network begins on 21 September 2026 at 14:00 (UTC).
Upgrade timing: The upgrade is scheduled to be officially executed when the block reaches height number 22,942,000, i.e., at around 15:00 (UTC) on the same day.
Trading continuity: The platform confirmed that trading operations (Spot & Futures) for Terra assets will not be affected at all and will continue normally without any interruption throughout the upgrade period.
Handling technical aspects: Binance will take care of all requirements and programming arrangements on behalf of users to facilitate the process and ensure a smooth experience.
Reopening services: Deposit and withdrawal operations will resume automatically once the platform confirms the stability of the upgraded network, and no additional announcement will be issued regarding this.
Expected positive impact on the Terra Classic (LUNC) coin
Binance’s participation and direct technical support for the Terra network serve as a strong boost and positive catalyst for the entire Terra ecosystem, foremost among them the Terra Classic (LUNC) coin, for several key reasons:
Strengthening confidence in the network ecosystem: Support from major platforms such as Binance for structural updates boosts investors’ confidence in the network’s continued operation, development, and ability to overcome its previous challenges.
Improving efficiency and security: Software upgrades typically aim to enhance transaction processing speed and strengthen security levels, which reduces vulnerabilities and makes the ecosystem more attractive for real-time applications and for developers.
Supporting liquidity and price stability: Protecting the trading environment and ensuring its continuity during the upgrade period prevents panic actions or sharp volatility caused by technical concerns, giving LUNC a more stable trading environment and one that is well-prepared for growth.
Streamlining burn operations and network mechanisms: Network stability and the improvement of its technical protocols make it easier for developers and platforms to continue supporting LUNC burn mechanisms and to reduce the total supply more effectively in the future.
LUNC0.00004504-1.42%