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- Binance has announced its support for the network upgrades of both Terra Classic (LUNC) and Kava (KAVA).
- According to crypto trading expert Javon Marks, the Terra Classic network upgrade could set off a significant price rally, potentially exceeding the $0.00139122 mark.
Binance Endorses Terra Classic and Kava Network Enhancements
Leading cryptocurrency exchange, Binance, has declared its support for the network upgrades of Terra Classic (LUNC) and Kava (KAVA). The Terra Classic network upgrade is scheduled to occur at the Terra Classic block height of 12,812,900, approximately around 14:03 UTC on 17 May 2023. Consequently, deposits and withdrawals for LUNC and USTC via the Terra Classic network will be temporarily suspended starting from 13:30 UTC on the same day.
Simultaneously, the Kava network upgrade is slated to take place at the Kava block height of 4,832,500, roughly at 15:00 UTC on 17 May 2023. As a result, deposits and withdrawals of KAVA will be suspended from around 14:30 UTC.
However, users can rest assured as the trading of LUNC, USTC, and KAVA will not be affected during the network upgrades. Moreover, Binance will manage all technical requirements for all users holding LUNC, USTC, and KAVA in their Binance accounts.
Terra Classic Poised for Major Price Surge
The recent announcement by Binance of its support for Terra Classic’s network upgrade has ignited excitement around the potential price movement of the network. Notably, cryptocurrency trading expert Javon Marks foresees this as a precursor to a considerable price ‘run,’ potentially surpassing the $0.00139122 mark.
Currently, Terra Classic (LUNC) trades at $0.0000906, having experienced a modest 1.26% increase in the past day. Despite a slight 0.92% decrease over the past week, the coin maintains a market capitalization of $532 million. The recent support level at the $0.00008 mark acts as a safety net, indicating a price point where the cryptocurrency faces increased buying pressure, which curbs any further dip.
This support level offers reassurance to investors, signifying significant demand for LUNC at this price range.
On the flip side, the $0.0001 level serves as a crucial resistance point for Terra Classic. Surpassing this level would necessitate a sustained buying momentum and heightened demand for LUNC. This suggests that the upgrade to Terra Classic’s network might potentially result in an impressive price surge, exciting investors and market watchers alike.