Binance Supports Network Upgrade of Terra Classic (LUNC): Deposit and Withdrawals Disabled

• Binance will be supporting the Terra Classic (LUNC) network upgrade.
• During the upgrade, deposits and withdrawals will be disabled for LUNC, USTC, and ANC.
• The upgrade may affect transaction fees for LUNC, USTC, and ANC.

Crypto exchange Binance has recently announced that it will be supporting the network upgrade of Terra Classic (LUNC). This upgrade will be taking place on epoch 15,029, and is a result of the LUNC community voting to pass Proposal 11242 which eliminates the re-minting of a portion of the burn tokens. During the three hour upgrade period, Binance will be disabling deposits and withdrawals for USTC, LUNC, and ANC. However, trading of these cryptocurrencies will still be allowed.

Once the upgrade is complete, deposits and withdrawals for LUNC, USTC, and ANC will automatically be re-opened, although Binance will not be making an announcement on this. Users should simply check if their deposits and withdrawals are working again after the upgrade. It is also important to note that the upgrade may affect transaction fees for LUNC, USTC, and ANC. To this end, Binance has stated that it will be reviewing and adjusting the withdrawal fees accordingly.

Overall, it is great to see Binance supporting the network upgrade of Terra Classic (LUNC). This upgrade is a step forward for the LUNC network, and will make the network more secure and efficient. It is also important to note that the upgrade may affect transaction fees, so users should keep an eye out for any changes.