The cryptocurrency exchange Binance announced its support for the Terra Classic network upgrade scheduled for December 17, 2024. During the upgrade, the exchange will temporarily suspend deposits and withdrawals.
Deposits and Withdrawals Suspension
Binance will temporarily suspend token deposits and withdrawals on the Terra Classic network at 14:57 UTC on December 17, 2024, approximately one hour before the upgrade begins. Trading activities for the relevant tokens will remain uninterrupted during this period.
No Additional Action Required from Users
Binance will manage all necessary technical details on behalf of users during the upgrade process, meaning users will not need to take any extra actions.
Network Upgrade Objective
The network upgrade aims to enhance the performance of the blockchain and provide a more stable infrastructure. Binance will closely monitor every phase of the process to ensure users have a secure and seamless experience.
After the upgrade is completed and the network stabilizes, the deposit and withdrawal services will resume. Binance emphasized that there will be no additional announcements regarding this process.
