- Binance’s support for Terra Luna Classic’s (LUNC) latest network upgrade has boosted investor confidence, despite a broader crypto market downturn.
- The upgrade enhances security and efficiency, with analysts speculating it could drive LUNC’s price toward a potential breakout.
Terra Luna Classic (LUNC) is making waves in the crypto market as Binance throws its support behind a crucial network upgrade. Despite broader market struggles, investors are increasingly optimistic about LUNC’s potential for a breakout, driven by both technical improvements and strong community backing.
Binance’s Role in LUNC’s Upgrade
Binance, one of the world’s largest cryptocurrency exchanges, confirmed its commitment to Terra Luna Classic by announcing its support for the latest network upgrade. As part of the transition, Binance will temporarily suspend deposits and withdrawals on the Terra Classic network on February 25, 2025, at 14:00 UTC, with the upgrade scheduled to take place at block height 22,176,864 at 15:00 UTC.
While trading will remain unaffected, Binance has assured users that all technical requirements for the upgrade will be handled internally. Once the network stabilizes post-upgrade, deposits and withdrawals will resume without further notice, strengthening investor confidence in LUNC’s future.
What’s Changing in Terra Classic v3.4.0?
The upcoming Terra Classic v3.4.0 upgrade brings several enhancements aimed at improving efficiency and security. Among the key improvements are:
- Fork Module Removal: All logic and code will now be integrated into an optimized repository, streamlining operations.
- Security Patches: These include updates such as Wasmvm v1.5.8, Patch CWA-2025-001 & CWA-2025-002, and CometBFT v0.37.15, strengthening the network’s resilience.
- Multisend Tax Handling Fix: This update enhances transaction efficiency by resolving reverse charge implementation issues.
- Validator Requirement: Validators must upgrade their Go to 1.22.12 before updating the client, ensuring smooth transitions.
Despite these technical improvements, the upgrade will not impact the blockchain’s state, meaning existing smart contracts and decentralized applications (dApps) will continue to function as usual.
LUNC Community Approves Another Critical Update
Adding to the excitement, the LUNC community has approved another significant software upgrade. The proposal, named “Terra — 4834 | Msg Software Upgrade v2.15.0,” was submitted on February 24, 2025 and focuses on addressing vital bug fixes to enhance network stability.
With Binance’s endorsement and active community involvement, market sentiment around LUNC has strengthened. Many analysts believe these developments could trigger a bullish price surge, attracting further investor interest.
Will LUNC’s Price Rally Soon?
Historically, major network upgrades and exchange support often act as catalysts for price rallies. However, while LUNC’s price dropped 6.6% to $0.00006492, its trading volume surged by 92% to $26.11 million, signaling increased market activity. LUNC Futures Open Interest remained steady at 9.56%.
Despite the recent dip, market analysts remain hopeful, with some predicting LUNC could reach $0.0001. Meanwhile, LUNA’s price declined by 11%, and USTC saw a 12% drop, reflecting broader market bearishness.
The Road Ahead for LUNC
With Binance’s backing and continuous network improvements, Terra Luna Classic is positioning itself as a resilient player in the crypto space. While the broader market conditions remain challenging, LUNC’s recent developments could pave the way for a strong recovery and potential price breakout in the near future.
For investors and traders eyeing LUNC, the coming days will be crucial in determining whether this latest upgrade sparks a sustained upward momentum.
