Binance plans to suspend token deposits and withdrawals for Terra (LUNA) on March 31, 2025, to facilitate a network upgrade.
Suspension of Terra Operations on Binance
To accommodate Terra's network upgrade and hard fork, Binance will pause deposits and withdrawals of LUNA, LUNC, and USTC on March 31, 2025, at 21:40 (UTC+8). The upgrade is scheduled to occur at block 14,958,500, around 22:40 (UTC+8) the same day. Trading activities of these tokens remain unaffected. Binance aims to ensure a seamless transition for users by handling all technical requirements during this period, with services resuming post-stability confirmation.
Expected Improvements Post-Upgrade
Terra's upgraded ecosystem is anticipated to boost market confidence. Binance also supported a similar Terra network upgrade earlier on February 4, 2025, demonstrating continuous backing for Terra's infrastructural improvements.
Terra's Market Performance Ahead of the Upgrade
According to CoinMarketCap, Terra's (LUNA) price is $0.19, with a market cap of $132.25 million and 0.01% dominance. Over 709.98 million LUNA tokens are circulating without a maximum supply cap, with recent price changes showing: -0.68% in 24 hours, -12.71% over a week, and -56.48% in the last 90 days.
The Terra ecosystem's upgrade aligns with broader technological trends, aiming to bolster network security and scalability. Predictions indicate increased market confidence post-upgrade, potentially enhancing Terra's long-term adoption rates and user satisfaction.
