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Terra Luna Classic Gets Major Binance Backing, LUNC Price Breakout Ahead? – Crypto News

Published

6 hours ago

February 25, 2025

Dripp

Terra Luna Classic (LUNC) is gaining attention as Binance steps in to support its latest network upgrade. The announcement comes at a time when the crypto market is facing a significant downturn, sparking optimism among investors. With key updates rolling out, many market watchers predict a potential breakout for LUNC price.

Binance Extends Support To Terra Luna Classic Upgrade

In a recent update, Binance confirmed its support for the Terra Luna Classic network upgrade. The exchange stated that deposits and withdrawals on the Terra Classic network would be suspended on February 25, 2025, at 14:00 UTC. The upgrade itself is set to occur at block height 22,176,864, scheduled for 15:00 UTC the same day.

Meanwhile, Binance assured users that LUNC and related token trading would not be affected. The top crypto exchange also stated that it will handle all technical requirements involved in the upgrade.

Once the network stabilizes post-upgrade, deposits and withdrawals will resume without any further announcements. This move by Binance indicates a strong commitment to the Terra Luna Classic ecosystem, further boosting confidence in LUNC’s long-term potential.

What’s New In Terra Luna Classic Upgrade?

The Terra Classic v3.4.0 update, scheduled for February 25, introduces several key improvements. The most notable change is the removal of fork modules, transitioning all logic and code to an updated repository. This ensures a more efficient and streamlined system.

The update also brings security patches to address vulnerabilities. Enhancements include fixes for Wasmvm v1.5.8, Patch CWA-2025-001, and Patch CWA-2025-002, ensuring better security for network participants. Additional fixes for CometBFT v0.37.15 and Patch ASA-2025-001 & ASA-2025-002 further strengthen network resilience.

Another key feature is the Multisend Tax Handling Fix, which optimizes multi-send transactions by addressing reverse charge implementation issues. This update aims to improve transaction efficiency on the network.

Meanwhile, validators must also upgrade their Go installation to version 1.22.12 before proceeding with the client upgrade. The upgrade itself does not introduce any changes to the chain’s state, ensuring that existing applications and smart contracts will continue to function normally.

LUNC Community Approves Another Major Upgrade

In addition to the Binance-backed update, the Terra Luna Classic community has overwhelmingly voted in favor of another software upgrade. The proposal, titled “Terra — 4834 | Msg Software Upgrade v2.15.0”, was submitted on February 24, 2025. This upgrade focuses on critical bug fixes aimed at improving chain liveness.

With the community’s full support and Binance’s commitment to the ecosystem, LUNC’s future appears strong. The recent developments may set the stage for a potential LUNC price surge, attracting further investor interest.

Will LUNC Price Breakout Soon?

The backing from Binance and the successful rollout of key updates position Terra Luna Classic for a potential price breakout. Historically, network upgrades and major exchange support have driven positive market sentiment. With LUNC price now on the radar of traders, a bullish momentum could be on the horizon.

However, amid a broader crypto market crash, LUNC price today was down about 6.6% and exchanged hands at $0.00006492, while its trading volume rocketed 92% to $26.11 million. LUNC Futures Open Interest stayed near the flatline at 9.56%. Despite that, a recent LUNC price analysis hints at a potential breakout ahead to $0.0001, sparking market optimism.

Meanwhile, the LUNA price today was down around 11%, resembling the gloomy sentiment hovering in the broader crypto market. USTC price was also down around 12% during writing.