Binance has announced its support for the upcoming update on the Terra (LUNA) network. This update is significant for users as it will temporarily suspend specific transactions.
Significant Changes Coming to the Terra Network
The Terra network will undergo a crucial upgrade and hard fork on March 4, 2025. The upgrade will begin when the block height reaches 14,565,000 and is expected to be completed around 18:32 Turkish time. To prepare for this process, Binance will temporarily suspend deposits and withdrawals on the Terra network starting at 17:32.
How Will the Upgrade and Hard Fork Affect Binance Users?
This update directly impacts Binance users trading on the Terra network. Users should be aware that deposits and withdrawals will be suspended on March 4, 2025. However, the continuity of trading activities means that users will not have to pause their trading of LUNA. The exchange will take care of all necessary preparations for technical requirements, leaving users without the need for additional actions. Nevertheless, until the upgrade is complete and the network is stable, deposit and withdrawal operations on the Terra network will be disabled. Users can resume their transactions once the upgrade is finalized, and it is essential for them to monitor the update timings since Binance will not provide further announcements.
Binance users should be aware of the Terra network update and the temporary suspension of specific operations. It's important to stay informed about the update timings despite the lack of further announcements from the exchange.
