Cryptocurrency exchange Binance has announced support for a network upgrade for Terra Classic (LUNC). Exchange also provides information on what he LUNC users should expect during and after the upgrade.
Binance implements new Terra Classic (LUNC) upgrade
In an announcement made on Friday, Binance revealed that it will support Terra Classic (LUNC) network upgrades. The upgrade, which will take place in epoch 15,029, is the result of his LUNC community voting to pass Proposition 11242, which precludes the reissuance of some of the Burn tokens.
The upgrade is expected to take approximately 3 hours, during which deposits and withdrawals on the Binance exchange will be disabled. This affects USTC, LUNC, and ANC during upgrades. However, users will be able to trade cryptocurrencies normally on the exchange.
Once the upgrade is complete, deposits and withdrawals for LUNC, USTC and ANC will resume automatically, but Binance will not announce this. So users should check if deposits and withdrawals are working again.
LUNC price trading at $0.00017 | Source: LUNCBUSD on TradingView.com
Additionally, upgrades may impact transaction fees for LUNC, USTC, and ANC. “Binance will review and adjust his LUNC, USTC, and ANC withdrawal fees through the Terra Classic (LUNC) network as necessary and in accordance with market conditions,” the exchange said. .
LUNC price has already responded positively to Binance’s announcement. The digital asset is currently trading green at a price of $0.000176. According to Coinmarketcap data, its price has increased by 6.87% over the past 24 hours, and has increased by 17.03% in the last week.
