Terra Luna Classic (LUNC) is capturing market attention as Binance announces its backing for the network's latest upgrade. Amid a broader crypto market downturn, this development has sparked optimism among investors. With critical updates on the horizon, analysts are eyeing a potential LUNC price breakout.
Binance Backs Terra Luna Classic Network Upgrade
Binance recently confirmed its support for the Terra Luna Classic upgrade, suspending deposits and withdrawals on February 25, 2025, at 14:00 UTC. The upgrade will commence at block height 22,176,864 (15:00 UTC).
Key details:
- Trading of LUNC and related tokens will remain unaffected
- Binance will manage all technical requirements
- Services will resume post-upgrade without additional announcements
This endorsement underscores Binance's confidence in the Terra Luna Classic ecosystem, potentially boosting LUNC's long-term viability.
Key Features of the Terra Classic v3.4.0 Upgrade
The February 25 update introduces several critical improvements:
Structural Changes
- Removal of fork modules
- Transition to updated repository
Security Enhancements
- Wasmvm v1.5.8 patches
- Critical fixes for CWA-2025-001/002
- CometBFT v0.37.15 updates
Transaction Optimization
- Multisend Tax Handling Fix
- Improved reverse charge implementation
Validators must upgrade to Go 1.22.12 before proceeding. Notably, the upgrade maintains chain state compatibility, ensuring uninterrupted smart contract functionality.
Community Approves Additional Upgrade
The LUNC community overwhelmingly passed Proposal 4834 on February 24, 2025, authorizing:
- Software Upgrade v2.15.0
- Critical bug fixes for chain liveness
- No state changes to existing applications
This democratic approval demonstrates strong community governance and commitment to network improvement.
LUNC Price Analysis and Market Outlook
Despite a 6.6% price drop to $0.00006492 at press time, several bullish indicators emerge:
- Trading volume surged 92% to $26.11M
- Futures Open Interest held steady at 9.56%
- Technical analysis suggests potential breakout to $0.0001
Market comparisons:
- LUNA price down 11%
- USTC declined 12%
The Binance endorsement and successful upgrades position LUNC for potential growth, though broader market conditions remain a factor.
FAQs: Terra Luna Classic Developments
Q: How does Binance's support impact LUNC?
A: Binance's technical backing lends credibility and may increase investor confidence in Terra Luna Classic's long-term potential.
Q: What are the key security improvements in v3.4.0?
A: The update includes critical patches for Wasmvm, CometBFT, and addresses vulnerabilities identified in CWA-2025 series advisories.
Q: When will trading resume post-upgrade?
A: Binance will reopen deposits/withdrawals once the network stabilizes, without requiring additional announcements.
Q: Could this trigger an LUNC price surge?
A: While upgrades often generate positive sentiment, price movement depends on broader market conditions and sustained network adoption.
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Note: All investment decisions should be based on independent research. Market conditions can change rapidly.