Binance, one of the world's leading cryptocurrency exchanges, announced support for the upcoming Terra (LUNA) network upgrade.
Binance Terra (LUNA) Announces Network Upgrade Support
The upgrade is scheduled to take place at block height 7,722,000 on November 15, 2023, at 17:30.
To facilitate the smooth implementation of the upgrade, Binance will temporarily suspend deposits and withdrawals of LUNA tokens on the Terra network. This suspension is expected to begin at 16:30 on November 15, 2023.
More importantly, trading of LUNA tokens on the Terra network will not be affected during this process. Users will be able to continue to carry out LUNA trading transactions without interruption.
Known for the importance it attaches to user experience, Binance guarantees that it will manage all technical requirements regarding the upgrade on behalf of its users.
This includes overseeing the suspension of deposits and withdrawals and ensuring a smooth transition during and after the upgrade.
Once the Terra network upgrade is successfully completed and deemed stable, Binance will reopen deposits and withdrawals for LUNA tokens.
This move by Binance underlines the exchange's commitment to supporting blockchain projects and providing its users with access to a safe and efficient trading environment.
*This is not investment advice.