Terra Luna Classic (LUNC) is in the spotlight as Binance announces its support for the network’s latest upgrade. This development comes amid a broader market downturn, injecting fresh optimism among investors. With key updates rolling out, market analysts are eyeing a potential LUNC price breakout.
Binance Supports Terra Luna Classic Network Upgrade
In a major announcement, Binance confirmed its support for the upcoming Terra Luna Classic upgrade. The exchange stated that deposits and withdrawals on the Terra Classic network will be temporarily suspended on February 25, 2025, at 14:00 UTC. The upgrade itself is scheduled to occur at block height 22,176,864 at 15:00 UTC the same day.
Despite the temporary suspension, Binance assured users that LUNC trading would remain unaffected. The exchange will handle all technical requirements for the upgrade, ensuring a seamless transition. Once the network stabilizes post-upgrade, deposits and withdrawals will resume without additional announcements. Binance’s backing signals strong confidence in the LUNC ecosystem, reinforcing bullish sentiment among investors.
Key Features of Terra Luna Classic Upgrade
The Terra Classic v3.4.0 upgrade introduces several critical improvements. The most notable change is the removal of fork modules, consolidating all logic and code into a streamlined repository. This update enhances network efficiency and security.
Additionally, security patches have been introduced to address vulnerabilities, including fixes for Wasmvm v1.5.8, Patch CWA-2025-001, and Patch CWA-2025-002. Further enhancements include updates for CometBFT v0.37.15 and Patch ASA-2025-001 & ASA-2025-002, bolstering the network’s resilience.
Another key feature is the Multisend Tax Handling Fix, which optimizes multi-send transactions by resolving reverse charge implementation issues. Validators must also upgrade their Go installation to version 1.22.12 before proceeding with the client upgrade. Importantly, the upgrade does not alter the chain’s state, ensuring seamless functionality for existing applications and smart contracts.
LUNC Community Approves Additional Major Upgrade
Beyond Binance’s support, the Terra Luna Classic community has voted in favor of another software upgrade. The proposal, titled “Terra — 4834 | Msg Software Upgrade v2.15.0,” was submitted on February 24, 2025. This update focuses on fixing critical bugs to improve chain liveness, further strengthening the ecosystem.
With Binance’s backing and crucial network upgrades underway, Terra Luna Classic appears poised for a potential price rally. Historically, exchange support and significant upgrades have boosted market sentiment.
At the time of writing, LUNC was trading at $0.00006492, down 6.6% amid the broader market slump. However, trading volume surged by 92% to $26.11 million, indicating heightened investor interest. LUNC Futures Open Interest remained steady at 9.56%. Analysts predict a potential breakout to $0.0001, fueling further optimism.
Also Read: Terra Luna Classic Burn: 400 Billion LUNC Gone as Binance Torches 736 Million Tokens
Meanwhile, Terra (LUNA) and TerraClassicUSD (USTC) also faced downturns, with LUNA losing 11% and USTC dropping 12%. Despite the overall bearish market conditions, LUNC’s developments suggest a bullish momentum could be on the horizon.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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