Despite a general decline in the cryptocurrency market, Binance‘s strong support for the Terra Luna Classic upgrade raised hopes for a possible LUNC price breakout.
With Binance stepping in to support its most recent network upgrade, Terra Luna Classic (LUNC) is becoming more well-known. The announcement has sparked investor optimism, as the cryptocurrency market is experiencing a significant decline. Market observers anticipate a possible breakout for the price of LUNC as essential updates are released.
Binance Extends Support For Terra Luna Classic Upgrade
According to a recent update, Binance supports the Terra Luna Classic network upgrade. On February 25, 2025, at 14:00 UTC, the exchange announced that deposits and withdrawals on the Terra Classic network would be halted. The upgrade is planned at block height 22,176,864 on the same day at 15:00 UTC.
Binance reassured users that the trading of LUNC and related tokens would remain unaffected. The leading cryptocurrency exchange added that it will handle all the technical needs of the upgrade.
There will be no more announcements regarding the resumption of deposits and withdrawals after the network stabilizes after the upgrade. Binance’s action demonstrates a strong dedication to the Terra Luna Classic ecosystem, which increases trust in LUNC’s long-term prospects.
What’s New With the Classic Terra Luna Upgrade?
On February 25, Terra Classic v3.4.0 will be released, bringing several significant enhancements. The most noticeable changes are the removal of fork modules and the transfer of all logic and code to an updated repository. This guarantees a more streamlined and effective system.
Security patches are also included in the update to fix vulnerabilities. Fixes for Wasmvm v1.5.8, Patch CWA-2025-001, and Patch CWA-2025-002 are among the improvements that guarantee improved security for network users. Network resilience is further strengthened by Patch ASA-2025-001 & ASA-2025-002 and additional fixes for CometBFT v0.37.15.
Another essential feature is the Multisend Tax Handling Fix, which resolves reverse charge implementation issues and optimizes multi-send transactions. The goal of this update is to increase the network’s transaction efficiency.
Before starting the client upgrade, validators must also update their Go installation to version 1.22.12. Existing applications and smart contracts will continue to operate normally because the upgrade doesn’t alter the chain’s state.
LUNC Community Accepts Another Significant Improvement
The Terra Luna Classic community has overwhelmingly voted in favor of another software update besides the one supported by Binance. On February 24, 2025, the proposal, entitled “Terra — 4834 | Msg Software Upgrade v2.15.0,” was turned in. The main goal of this update is to improve chain liveness by fixing essential bugs.
LUNC seems to have a bright future thanks to the community’s unwavering support and Binance’s dedication to the ecosystem. The recent events might pave the way for a possible spike in the price of LUNC, drawing in more investors.
