Binance, one of the leading cryptocurrency exchanges, has announced that it supports the upcoming Terra (LUNA) network upgrade.
Binance Will Support Terra (LUNA) Network Upgrade
The network upgrade is scheduled to occur at block height 5,994,365 Terra, which is estimated to occur around 18-07-2023 16:00.
As part of the upgrade process, deposits and withdrawals from LUNA will be temporarily suspended from approximately 18-07-2023 3:00 PM.
It is important to note that LUNA trading will not be affected during the network upgrade. Users will be able to continue trading LUNA on the Binance platform without any interruptions.
Binance has assured its users that it will meet all technical requirements regarding network upgrade for those holding LUNA in their Binance account.
The exchange will closely monitor the upgrade process and ensure that the upgraded network is stable before reopening deposits and withdrawals for LUNA.
Users will not receive a separate notification when deposits and withdrawals are restarted, so it is recommended to stay up to date on the status of the network upgrade.
Terra (LUNA) is a blockchain platform focused on building a stable coin ecosystem. With the network upgrade, Terra aims to increase the performance and functionality of its blockchain and provide a better user experience for its community.
Binance's support for the Terra (LUNA) network upgrade demonstrates its commitment to facilitating the smooth transition of cryptocurrencies and supporting the growth of blockchain networks.
Binance continues to play an important role in the cryptocurrency ecosystem by providing a seamless upgrade process for its users.
*Not investment advice.