Binance has confirmed its backing for an upcoming enhancement on the Terra (LUNA) network, prompting a temporary halt on certain transactions as the platform prepares for a significant network upgrade. This initiative aims to ensure a seamless experience for users during the scheduled hard fork and system improvements.
What Changes Will the Terra Upgrade Bring?
Scheduled for March 4, 2025, the Terra network will undergo a pivotal upgrade starting when the block height hits 14,565,000, estimated to conclude around 18:32 Turkish time. To facilitate this process, Binance will pause deposits and withdrawals on the Terra network from 17:32 that same day.
Will Users Experience Trading Interruptions?
Despite the upgrades, LUNA trading will remain unaffected during this transition. Binance is set to manage all technical aspects, ensuring users do not need to take any extra steps. After the upgrade has concluded and the system stabilizes, users can expect the resumption of deposits and withdrawals, although no formal notice will be given for this restoration.
– Deposits and withdrawals on the Terra network will be suspended starting March 4, 2025.
– Trading of LUNA will continue without interruption.
– Users do not need to take any actions, as Binance will handle the technical requirements.
– No additional announcements will be made regarding the resumption of operations.
Users are encouraged to stay informed about the upgrade’s timing, as operations will resume automatically once the upgrade is completed, without any further notifications from Binance. This proactive approach highlights Binance’s commitment to user experience throughout the upgrade process.
