Alvin Lang
Sep 18, 2024 08:42
Binance provides an update regarding the upcoming upgrade of the Terra Classic (LUNC) network, which will temporarily affect deposits and withdrawals on September 18, 2024.
Overview of the Announcement 📢
Leading cryptocurrency exchange Binance has communicated its support for the imminent upgrade of the Terra Classic (LUNC) network. The upgrade is set to occur on September 18, 2024, around 10:15 (UTC).
Effects on Deposit and Withdrawal Operations 🔒
In preparation for the upgrade, Binance will halt the deposit and withdrawal processes of tokens on the Terra Classic network starting at the specified time. Nonetheless, trading activities for tokens on this network will remain unaffected. Binance has reassured its user base that it will efficiently manage all technical aspects of the upgrade.
Details on the Network Upgrade 🔧
The Terra Classic network upgrade is scheduled to take place at a block height of 19,850,000, which is anticipated to happen around 11:15 (UTC) on the same day. Binance has articulated that deposits and withdrawals will resume once the upgraded network is confirmed to be stable. No additional updates are expected regarding the reactivation of these services.
Ensuring Technical Efficiency 🛠️
Binance is focused on guaranteeing that users have a smooth experience throughout this upgrade process. The exchange has pledged to oversee all technical duties related to the upgrade, aiming to mitigate any possible disruptions for its members. It is worth noting that there could be inconsistencies in translated versions of the announcements, so users are encouraged to consult the original English text for the most trustworthy information.
Community Insights and Market Reactions 💬
The announcement has garnered attention from the Terra Classic community, which looks forward to the enhancements resulting from the network upgrade. This upgrade is expected to bolster the overall functionality and security of the Terra Classic network, potentially benefiting the token’s market performance.
To learn more, you can view the official statement issued by Binance.
Final Thoughts 🔍
The Terra Classic network upgrade, supported by Binance, has sparked considerable enthusiasm within the community. As the exchange works to manage all technical matters, users can anticipate an upgraded experience once services resume. Being aware of these changes helps you stay informed and engaged in the dynamic landscape of the cryptocurrency market.
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