Binance has gained attention with its announcement of supporting Terra Luna Classic during its most recent network upgrade. The cryptocurrency market shows steep declines across the board as LUNC receives fresh backing through the Binance platform at this critical moment.
Binance Extends Support to Terra Luna Classic Upgrade
Binance declared its backing for the upcoming network update of Terra Luna Classic during a recent announcement. Starting at 14:00 UTC on February 25, 2025, as per the exchange notice, the Terra Classic network will halt all deposit and withdrawal operations until the scheduled upgrade at block height 22,176,864 at 15:00 UTC.
Binance informed users that trading and transactions related to LUNC and its tokens would stay unaffected when deposits and withdrawals were suspended. The exchange has taken responsibility for executing all essential technological procedures related to the upgrade process. Withdrawals along with deposits will start automatically after the network achieves stability following the upgrade.
Key Changes in the Terra Luna Classic Upgrade
The Terra Classic v3.4.0 update includes various essential improvements. The fork modules follow a complete removal from the system while the updated repository receives all existing logic and code for better operational speed.
Security improvements form an essential part of the update through patch implementations for Wasmvm v1.5.8 and the pair of fixes CWA-2025-001 and CWA-2025-002. The network receives additional security through updated components such as CometBFT v0.37.15 and Patch ASA-2025-001 & ASA-2025-002.
The update features a new capability that enhances the multi-send feature by fixing reverse charge handling problems. The client upgrade requires validators to update their Go software installation to version 1.22.12 first. The chain state remains unaffected by this update so all currently running applications and smart contracts operate without any disruptions.
Terra Luna Classic Community Approves Additional Upgrade
Support from Binance enabled the Terra Luna Classic community members to pass an overwhelming vote for executing another software upgrade. The proposal “Terra — 4834 | Msg Software Upgrade v2.15.0” received a submission on February 24th, 2025. A new chain stability enhancement software upgrade tackles essential bug problems as its primary goal.
Both Binance alongside the LUNC community collectively create a favorable direction for the price outlook of LUNC. The recent developments create potential conditions to build fresh faith among investors in Terra Luna Classic’s extended roadmap.
Will LUNC Price See a Breakout?
Binance’s backing and essential network updates create favorable conditions for Terra Luna Classic to experience potential price growth. Past instances of both substantial network developments and exchange backing have generated upward momentum in the market.
The overall market turmoil has boosted LUNC trading volume by 92% to $26.11 million while the price fell 6.6% to settle at $0.00006492. The LUNC Futures Open Interest shows no change by maintaining its current value at 9.56%. Analysts predict LUNC will achieve the $0.0001 price level because of sustained market growth potential.
The LUNA price has declined by 11% while USTC has fallen by 12%. For the upcoming period, LUNC shows indications of price appreciation due to its recent market developments within an unclear general crypto market situation.
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