During the ongoing downturn in the cryptocurrency market, a significant network update for Terra Luna Classic (LUNC) has been announced. Supported officially by Binance, this update includes technical improvements and security enhancements. Scheduled for implementation on February 25, 2025, the update will temporarily halt deposits and withdrawals during specific hours. This initiative, backed by a large majority of the community, aims to make the LUNC ecosystem safer and more efficient.
Official Support from Binance for the Update
Binance has declared its full support for the upcoming update on the Terra Luna Classic network. On February 25, 2025, at 14:00 UTC, LUNC deposits and withdrawals will be temporarily suspended on the exchange. Users will still be able to trade, but 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. Additionally, transactions involving LUNC and related tokens will not be affected. This development illustrates Binance’s long-term commitment to the Terra Luna Classic ecosystem and could have a positive impact on the market.
Details of the Terra Classic v3.4.0 Update
The v3.4.0 update for the Terra Luna Classic network encompasses numerous technical enhancements. The goal is to improve network efficiency through the removal of fork modules and updates to 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 prior to the update. Once the update is complete and the network stabilizes, deposit and withdrawal services will be reactivated.
Post-update, the Terra Luna Classic ecosystem is expected to have a stronger infrastructure. Alongside 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.
