Binance Will Support Terra Classic (LUNC) Upgrades

Binance to Support LUNC Upgrade

Terra Classic (LUNC) will receive support from Binance for its upgrade on January 14, which would have re-minted some burnt LUNC tokens.

Binance confirmed support for the incoming upgrade in a blog on January 13, noting that the upgrade should take up to three hours and that trading for the token will be suspended during the process. Binance will reopen deposits and withdrawals once it determines the network is stable, while trading will remain open.

The upgrade comes after the Terra Classic community voted on Governance Proposal 11242, which intended to re-mint burnt LUNC tokens.

Binance reportedly handles over 50% of the LUNC trading volume, making the support notably important for the token’s upgrade. Binance has consistently supported the revival and recovery of the Terra Luna ecosystem after its epic 2022 collapse.

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