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HomeCrypto NewsBinance Announces Support for the Terra Classic (LUNC) Network Upgrade

Binance Announces Support for the Terra Classic (LUNC) Network Upgrade

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Binance, one of the world’s leading cryptocurrency exchanges, has announced its support for the Terra Classic (LUNC) network upgrade. The announcement was made after the community released its latest proposal

Binance announced its support for the upcoming Terra Classic (LUNC) network upgrade, which is set to take place on January 14th, 2023, at 04:50 UTC. The exchange has stated that in preparation for the upgrade, deposits, and withdrawals for LUNC, USTC, and ANC via the Terra Classic (LUNC) network will be suspended starting from January 14th, 2023, at 03:50 UTC.

This move by Binance demonstrates its commitment to the development and growth of the Terra Classic ecosystem and its dedication to providing its users with the best possible trading experience. Additionally, Binance will handle all technical requirements for all users holding LUNC, USTC, and ANC in their Binance accounts. Moreover, Binance will review and adjust the withdrawal fees for LUNC, USTC, and ANC via the Terra Classic (LUNC) network in accordance with market conditions, where applicable.

Read also: The Terra Classic Network to Stop Terra LUNC Re-Mints

It is relevant to note that the top exchanges said they would handle all technical requirements for all the users holding LUNC, USTC, and ANC in their Binance accounts. The upgrade will take approximately 3 hours. 

The exchange also noted that they will not provide an additional announcement or notification to users when this occurs but will instead open up the deposit and withdrawal services for the Terra Classic (LUNC) network as soon as it is deemed safe and stable to do so.

As of the time of writing, the Terra Classic (LUNC) trades at $0.0001737 with a 6.21% increase in the last 24 hours.

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