Binance, a prominent cryptocurrency exchange on the global stage, has announced its endorsement of the forthcoming Terra (LUNA) network upgrade.

Binance's Support for Terra (LUNA) Network Upgrade Revealed

The network upgrade is scheduled to occur at block height 7,722,000, and it is set for November 15, 2023, at 17:30.

To ensure a seamless implementation of this upgrade, Binance will temporarily halt the acceptance and withdrawal of LUNA tokens on the Terra network. This temporary suspension is anticipated to commence at 16:30 on November 15, 2023.

Crucially, this suspension will not impact the trading of LUNA tokens on the Terra network. Users will retain the ability to conduct LUNA trading activities without any disruptions.

Binance, renowned for its dedication to user satisfaction, guarantees its oversight of all technical aspects related to the upgrade on behalf of its users. This encompasses the supervision of deposit and withdrawal suspensions and the facilitation of a smooth transition during and post-upgrade.

Upon the successful and stable completion of the Terra network upgrade, Binance will reopen its LUNA token deposit and withdrawal services.

This move by Binance underscores the exchange's steadfast commitment to supporting blockchain initiatives and offering its users access to a secure and efficient trading environment.