Binance Supports Terra Luna Classic Core Upgrade
Binance, the world’s largest cryptocurrency exchange, has announced its support for the latest upgrade of Terra Luna Classic. The upgrade, known as the v2.2.1 core upgrade, was proposed by the L1 Terra Classic Task Force (L1TF) developer group and has been unanimously approved by the Terra Luna Classic community.
Deposits and Withdrawals Temporarily Suspended
Binance will temporarily suspend deposits and withdrawals of tokens through the Terra Classic network one hour before the upgrade takes place. However, spot and margin trading of LUNC and USTC on the Terra Classic network will continue as usual during the upgrade.
In a statement, Binance assured users that they will handle all technical requirements and reopen deposits and withdrawals once the upgraded network is deemed stable.
Anticipation of Price Increase
After experiencing a 5% drop due to market pressure, the prices of Terra Luna Classic and USTC are expected to rise. LUNC has seen a 3% increase from its 24-hour low, currently trading at $0.000057. Meanwhile, USTC is trading at $0.012, also up 3% in the past 24 hours.
Conclusion
The support from Binance for the Terra Luna Classic core upgrade is a positive development for the network. With the anticipation of a price increase, it will be interesting to see how the market responds to the upgrade and whether it will attract more investors to the platform.
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