Terra Luna Classic (LUNC) Surges as Binance Backs Major Upgrade

Terra Luna Classic (LUNC) is moving up after Binance announced it's supporting the latest network upgrade. Despite the broader crypto market struggling

Terra Luna Classic (LUNC) price is up today after Binance announced it’s supporting the latest network upgrade. This comes as the broader crypto market struggles.

What Happened: Binance confirmed its commitment to the Terra Luna Classic ecosystem on Monday.

The exchange will pause Terra Classic network deposits and withdrawals on Feb. 25, 2025 at 14:00 UTC. The upgrade will occur at block height 22,176,864 at 15:00 UTC on the same day.

Binance said it will handle all technical requirements for the upgrade internally, while trading will remain unaffected. Deposits and withdrawals will resume once the network is stable post upgrade, without further notice.

Key Features Of Terra Luna Classic Upgrade: Terra Classic v3.4.0 brings several efficiency and security improvements.

A key change is the removal of fork modules and the integration of all logic and code into an optimized repo.

Security patches included in the update are Wasmvm v1.5.8 (Patch CWA-2025-001 & Patch CWA-2025-002) and CometBFT v0.37.15 (Patch ASA-2025-001 & Patch ASA-2025-002).

A Multisend Tax Handling Fix also improves transaction efficiency by fixing reverse charge implementation issues. Validators must upgrade their Go to 1.22.12 before updating the client.

The upgrade does not affect the chain’s state, meaning smart contracts and existing applications will continue to operate as before.

LUNC Community Approves Another Major Update: In addition to the Binance support, the Terra Luna Classic community recently approved another important software upgrade.

The proposal, titled “Terra — 4834 | Msg Software Upgrade v2.15.0,” was submitted on Feb. 24, 2025. The proposal focused on critical bug fixes to enhance network stability.

These combined updates have sparked optimism among market participants, who are closely monitoring LUNC’s price movements.

What Else Matters: Historical trends have shown that major network upgrades and exchange support often catalyze bullish sentiment in the cryptocurrency markets.

At the time of writing, LUNC trades 6.6% lower at $0.00006492 over the last 24 hours, according to Benzinga Pro. Trading volume surged 92% to $26.11 million and LUNC Futures Open Interest stood at 9.56%.

Despite the downturn in the broader crypto market, market analysts are hopeful for a potential breakout, which could see LUNC targeting the $0.0001 level.

Meanwhile, LUNA price is down 11% and mirrors the bearish sentiment across the crypto sector. USTC experienced a 12% decline.