Terra Luna Classic (LUNC) is once again in the spotlight as Binance extends its support for the network’s latest upgrade. This significant development has fueled speculation about a potential price breakout for LUNC, despite prevailing bearish trends in the broader cryptocurrency market. Binance’s endorsement, coupled with crucial updates to the Terra Luna Classic ecosystem, raises important questions about the token’s future stability and growth.
Binance Backs Terra Luna Classic v3.4.0 Upgrade
Binance has officially confirmed its support for the upcoming v3.4.0 upgrade on the Terra Luna Classic network, scheduled for February 25, 2025. As part of the process, the exchange will temporarily suspend LUNC deposits and withdrawals at 14:00 UTC, with the upgrade implementation occurring at block height 22,176,864, set for 15:00 UTC. Despite the temporary suspension, Binance assured traders that LUNC trading will remain unaffected, allowing continued market activity.
Following the completion of the upgrade, Binance will resume deposit and withdrawal services once the network stabilizes. The exchange’s backing is viewed as a strong vote of confidence in LUNC’s long-term viability and its ability to navigate the evolving crypto landscape.
Key Enhancements in the Terra Luna Classic Upgrade
The v3.4.0 upgrade introduces critical improvements aimed at enhancing security, efficiency, and overall network resilience. Among the key updates are the removal of outdated fork modules and the transition to a more optimized codebase. Additionally, security vulnerabilities are being addressed through updates such as Wasmvm v1.5.8, CometBFT v0.37.15, and specific patches like CWA-2025-001, CWA-2025-002, and ASA-2025-001.
A crucial aspect of the upgrade is the Multisend Tax Handling Fix, which resolves issues related to reverse charge implementation and streamlines multi-send transactions. To ensure seamless functionality, validators are required to upgrade their Go installation to version 1.22.12.
Community Endorsement and Market Outlook
In a further show of support, the Terra Luna Classic community recently voted in favor of an additional software upgrade, the “Msg Software Upgrade v2.15.0,” aimed at fixing bugs and improving blockchain stability. This overwhelming community approval underscores investor confidence in the project’s continued development.
Also Read: CZ’s BNB Chain Influence: Is the Former Binance CEO Still Pulling the Strings?
Despite a recent 6% decline in LUNC’s price, analysts remain optimistic about its potential for a breakout. At the time of writing, LUNC was trading at $0.00006683, reflecting a 2.88% drop in the past 24 hours. However, with Binance’s backing and ongoing network improvements, many believe LUNC may be on the verge of a bullish surge in the coming weeks.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
