Terra Classic (LUNC) is among the altcoins that have gained the most value in the last 24 hours today. Terra Classic, the original Blockchain of the Terra ecosystem, rose in double digits after the Binance announcement. Here’s what Binance will do for Terra…
Binance announces support for Terra Classic
The world’s largest exchange by trading volume has announced that it will support the upgrade of the Terra Classic (LUNC) network, which was abandoned by Do Kwon and his team in May following the collapse of the Terra ecosystem. According to the official announcement, the Terra Classic (LUNC) network upgrade will take place at approximately 01:00 on August 27, 2022. Binance will suspend LUNC deposits and withdrawals from August 27 at 00:00. More details can be found in the official announcement.
27 Ağustos 2022 Cumartesi günü Türkiye saati ile 01.00’de Terra Classic ( $LUNC) için ağ yükseltmesi yapılacaktır.
Detaylar:➡️ https://t.co/LHm1JiyMbG pic.twitter.com/MJ4P0U1f9x
— Binance TR (@BinanceTR) August 26, 2022
Binance isn’t the only exchange that supports network upgrade
Binance, Kraken, ByBit, Kucoin, Cryptocom, Bybit, FTX and most major exchanges support Terra Classic network upgrade. Therefore, they will suspend deposits and withdrawals on all exchanges during the upgrade, just like Binance.
While exchanges supported, the number of LUNC burned reached 3 billion
The value of LUNC has increased by 13% after the exchange announcements and the rise in the community’s token burning initiative. According to CMC data, the LUNC price has gained 10% in the last 24 hours and 40% in seven days. In the past 24 hours, LUNC trading volume has reached $348.14 million on various exchanges, including Binance and KuCoin. These activities pushed the price of LUNC to a peak of $0.00013 earlier today. Although the price is currently down to $0.0012, sudden price movements may continue due to tomorrow night’s update.
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