SNEAK PEEK
- Binance announced that it would support the latest Terra LUNA network upgrade.
- The Terra LUNA upgrade is reportedly taking place at the block height of 890,000.
- The deposits and withdrawals of LUNA will be halted commencing from 2022-07-28, 22:00 (UTC) approximately.
A recent announcement made through the official Twitter handle of Binance revealed that the leading exchange would be extending support to the Terra LUNA network upgrade. As revealed, the network upgrade will occur at the block height of 890,000 or at 2022-07-29 00:00 (UTC).
It should be noted that the estimated time given is just for the reference of the users only and is not certain.
#Binance will support the Terra $LUNA network upgrade.https://t.co/o1a3dcvgxY
— Binance (@binance) July 28, 2022
During the time of the upgrade, the deposits, and withdrawals of the LUNA coin will be suspended. However, there will be no impact on the trading of LUNA during the network upgrade.
Adding further to the announcement, the platform clarified that it would be taking care of all the technical requirements for all the users holding LUNA in their Binance wallets. This means that users won’t have to be concerned about what happens to LUNA stored in their Binance accounts.
Once the upgrade seems completed and stable, Binance will allow the deposits and withdrawals windows for LUNA again. As there was no impact on the trading of LUNA, everything will be back to normal following the completion of the upgrade in terms of deposits and withdrawals.
Currently, only this much information has been officially revealed by the Binance platform. The crypto exchange platform will notify users about the upgrade in further announcements.
Most recently, Binance announced that it would be supporting the Qtum Network Upgrade and Hard Fork.
For more updates regarding the Terra LUNA network upgrade, stay tuned to TNFT.
