Crypto
Binance Supports Terra Network Upgrade, LUNA Price Surges 15%
Binance has announced its support for the upcoming Terra network upgrade, which is scheduled to take place on September 21 at around 16:00 UTC. The v2.21.0 release aims to strengthen network security, stability, and interoperability.
The exchange will temporarily pause deposits and withdrawals of Terra tokens during the upgrade, but trading will continue as normal. This is a standard procedure for infrastructure work and ensures that users' assets are protected.
The announcement has already had a significant impact on LUNA's price, with it rising nearly 15% to $0.0536 in just 24 hours. Trading volume also spiked by 1290%, suggesting a wave of new speculative interest.