- Binance’s support for Terra Luna Classic’s v3.4.0 upgrade boosts confidence, signaling potential future price growth despite market downturns.
- The LUNC community’s approval of the Msg Software Upgrade v2.15.0 and Binance’s backing suggests positive momentum for LUNC’s stability and growth.
Terra Luna Classic (LUNC) is making headlines as Binance extends its support for the network’s latest upgrade. This has led many to speculate about a possible breakout in LUNC’s price despite the general downturn in the crypto market. The support from Binance, coupled with key updates to the network, has raised concerns about LUNC’s future growth and stability.
In an important move for the Terra Luna Classic network, Binance has confirmed its backing for its v3.4.0 upgrade, scheduled for February 25, 2025. The exchange will temporarily suspend deposits and withdrawals on the Terra Classic network at 14:00 UTC, with the upgrade occurring at block height 22,176,864, set for 15:00 UTC.
Despite temporarily suspending network transactions, Binance reassured users that trading for LUNC and related tokens will not be affected.
According to our recent report, deposits and withdrawals will resume once the upgrade is complete and the network stabilizes. This is a show of support for Terra Luna Classic’s future, and this backing from one of the largest crypto exchanges in the world is seen as a strong indicator of confidence in LUNC’s long-term potential.
Key Features of the Terra Luna Classic Upgrade
The v3.4.0 update for Terra Luna Classic introduces several changes to improve security and network efficiency. Notably, the update removes outdated fork modules and transitions the system to a more streamlined and updated code database.
Additionally, the update includes fixes for vulnerabilities, including patches for Wasmvm v1.5.8 and CometBFT v0.37.15 and additional security patches like CWA-2025-001, CWA-2025-002, and ASA-2025-001. These updates raise the network’s resilience and ensure better user protection.
Another key feature is the Multisend Tax Handling Fix, which addresses reverse charge implementation issues and optimizes the efficiency of multi-send transactions across the network. To support the new system, validators must also upgrade their Go installation to version 1.22.12.
LUNC Community Votes for Additional Software Upgrade
As we reported, in addition to Binance’s support, the Terra Luna Classic community recently voted strongly in favor of another upgrade, the “Msg Software Upgrade v2.15.0.” This update, which focuses on bug fixes, is set to enhance the blockchain’s stability.
The approval of this upgrade displays strong community support, further raising investor confidence in LUNC’s development. As Binance’s support aligns with the LUNC community’s commitment to improving the network, the combined efforts will likely provide positive momentum for LUNC soon.
However, despite a recent 6% decline in LUNC’s price, many observers believe the ongoing developments in the Terra Luna Classic network might signal an impending price breakout. During the time of writing, the price of LUNC was trading at $0.00006683, reflecting a 2.88% drop in the last 24 hours.
