The cryptocurrency exchange Binance announced its support for the Terra Classic (LUNC) network upgrade scheduled for December 17, 2024. Consequently, the exchange will temporarily suspend token deposits and withdrawals on the Terra Classic network during the upgrade. The upgrade is set to commence when the block height reaches 21,163,600, with an expected completion time of 15:57 UTC on the same day.
Deposits and Withdrawals Will Be Suspended
Binance will temporarily suspend token deposits and withdrawals on the Terra Classic network at 14:57 UTC on December 17, 2024, approximately one hour before the upgrade begins. However, there will be no interruption in trading activities for the relevant tokens during this period.
After the upgrade is completed and the network stabilizes, the deposit and withdrawal services will resume. Binance emphasized that there will be no additional announcements regarding this process.
No Additional Action Required from Users
Binance will manage all necessary technical details on behalf of users during the upgrade process, meaning users will not need to take any extra actions. This network upgrade aims to enhance the performance of the blockchain and provide a more stable infrastructure. Binance will closely monitor every phase of the process to ensure users have a secure and seamless experience.
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