BTC

$76494.054

-4.10%

ETH

$1450.968

-8.60%

XRP

$1.801

-5.16%

BNB

$548.724

-2.49%

News

Binance Suspends Terra Deposits for Upcoming Network Upgrade

2 mins mins
Key Points:
  • Binance suspends Terra deposits for a network upgrade on March 31, 2025.
  • Affects LUNA, LUNC, and USTC transactions.
  • Trading continues unaffected during the upgrade.

Binance plans to suspend token deposits and withdrawals for Terra (LUNA) on March 31, 2025, to facilitate a network upgrade and hard fork.

This temporary suspension is designed to support the upgrade process, enhancing the Terra ecosystem and minimizing potential issues.

Binance to Suspend Terra Transactions on March 31 for Network Upgrade

To accommodate Terra’s network upgrade and hard fork, Binance will pause deposits and withdrawals of LUNA, LUNC, and USTC on March 31, 2025, at 21:40 (UTC+8). The upgrade is scheduled to occur at block 14,958,500, around 22:40 (UTC+8) the same day. Trading activities of these tokens remain unaffected. Binance aims to ensure a seamless transition for users by handling all technical requirements during this period, with services resuming post-stability confirmation.

Industry experts view the upgrade positively for maintaining Terra’s technological robustness.

“Starting at approximately 2025-03-31 13:40 (UTC), Binance will suspend the deposits and withdrawals of token(s) on the Terra (LUNA) network to support its network upgrade and hard fork to ensure the best user experience.” – Binance Official Announcement

Terra’s Upgraded Ecosystem Anticipated to Boost Market Confidence

Did you know? Binance also supported a similar Terra network upgrade earlier on February 4, 2025, demonstrating continuous backing for Terra’s infrastructural improvements.

CoinMarketCap data reveals Terra’s (LUNA) price at $0.19, with a market cap of $132.25 million and a 0.01% dominance. Over 709.98 million LUNA tokens are circulating without a maximum supply cap, and recent price changes show fluctuations: -0.68% in 24 hours, -12.71% over a week, and -56.48% in the last 90 days.

terra-daily-chart-4
Terra(LUNA), daily chart, screenshot on CoinMarketCap at 13:27 UTC on March 31, 2025. Source: CoinMarketCap

According to Coincu research, the Terra ecosystem’s upgrade aligns with broader technological trends, aiming to bolster network security and scalability. Predictions indicate increased market confidence post-upgrade, potentially enhancing Terra’s long-term adoption rates and user satisfaction.

Rate this post
Follow us on Google News

No tags available.

Avatar of Mayowa Adebajo

Mayowa Adebajo

31 March 2025, 13:31:11 GMT +0000

Mayowa is a seasoned freelance writer specializing in creating compelling, high-converting content across diverse industries.

With extensive experience working with major news outlets, personal blogs, and private clients, he brings a deep understanding of audience engagement and storytelling. His expertise spans SEO optimization, persuasive copywriting, and niche versatility, ensuring content that resonates and delivers results.

Armed with a strong command of the English language and a keen eye for detail, he crafts content that is both impactful and strategically tailored to meet client goals.

Other Posts: