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Binance has announced its support for an upcoming update on the Terra (LUNA) network. In this context, the exchange will temporarily suspend specific transactions during the network upgrade and hard fork. Binance will handle all technical requirements to maximize user experience.
Significant Changes Coming to the Terra Network
The Terra network will undergo a crucial upgrade and hard fork on March 4, 2025. The upgrade will begin when the block height reaches 14,565,000 and is expected to be completed around 18:32 Turkish time. To prepare for this process, Binance will temporarily suspend deposits and withdrawals on the Terra network starting at 17:32.
Users’ LUNA coin trading activities will not be affected during this process. Binance will manage the situation without requiring any additional actions from users by fulfilling technical requirements within its system. Once the network upgrade is completed and stabilized, deposits and withdrawals will be reactivated. However, Binance will not issue a separate announcement for the resumption of these operations.
How Will the Upgrade and Hard Fork Affect Binance Users?
This update directly impacts Binance users trading on the Terra network. Users should be aware that deposits and withdrawals will be suspended on March 4, 2025. However, the continuity of trading activities means that users will not have to pause their trading of LUNA.
The exchange will take care of all necessary preparations for technical requirements, leaving users without the need for additional actions. Nevertheless, until the upgrade is complete and the network is stable, deposit and withdrawal operations on the Terra network will be disabled. Users can resume their transactions once the upgrade is finalized, and it is essential for them to monitor the update timings since Binance will not provide further announcements.
