The post LUNC News: Binance Backs Terra Luna Classic Upgrade Amid Crypto Market Decline appeared on BitcoinEthereumNews.com.

While Terra Luna Classic (LUNC) deposits and withdrawals will be temporarily frozen, trading on the platform will remain unaffected, signaling Binance’s confidence in the LUNC ecosystem. The v3.4.0 upgrade includes critical security patches, Wasmvm v1.5.8, CometBFT v0.37.15, and improved multisend tax handling. Binance has expressed its support for Terra Luna Classic’s (LUNC) upcoming network upgrade. The announcement comes during a general crypto market downturn, attracting new interest in LUNC. Binance’s Involvement In The Terra Classic Upgrade In a recent announcement, Binance assured us it would support the technical facets of the Terra Luna Classic upgrade. In the process, the exchange will freeze LUNC deposits and withdrawals on February 25, 2025, at 14:00 UTC. The network upgrade will be carried out at 15:00 UTC at block height 22,176,864. Although transfers were temporarily suspended, Binance guaranteed that purchasing and selling LUNC on its platform would be unaffected. Once the network settles after the upgrade, deposits and withdrawals will resume automatically. The exchange’s participation is a strong indication of faith in the Terra Luna Classic ecosystem. It sends a message of reassurance to investors when market conditions are still tough. The Terra Classic v3.4.0 upgrade brings various essential enhancements with the goal of making the network more efficient and secure. One of the most important changes is the elimination of fork modules, integrating all activities into one compact code repository. Security improvements are the primary area of focus, with various patches closing network vulnerabilities. Some of the key updates are: Wasmvm v1.5.8 Patch CWA-2025-001 & CWA-2025-002 CometBFT v0.37.15 Patch ASA-2025-001 & ASA-2025-002 These enhancements are intended to maximize system resilience and avert likely exploits. Multisend Tax Handling Fix is another essential feature that maximizes multi-send transactions by fixing the problems of implementing reverse charges. This update targets transaction efficiency enhancement, making the network…

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Filed under: News - @ February 26, 2025 5:26 am