Binance crypto exchange announced that it would support the Terra Classic (LUNC) v2.0.1 network upgrade and the Kava 13 mainnet upgrade. Deposits and withdrawals of LUNC and KAVA will also be suspended.
Today, May 17, the cryptocurrency exchange will halt deposits and withdrawals of LUNC and USTC on the Terra Classic (LUNC) network. KAVA deposits and withdrawals are also suspended today.
Binance will support the Terra Classic (LUNC) network upgrade scheduled to occur on May 17 at block height 12,815,210, or approximately 16:45 UTC, per a May 17 announcement.
The blockchain will be suspended at the block for the duration of the upgrade.
On May 17 at 13:30 UTC, Binance will suspend deposits and withdrawals for LUNC and USTC on the Terra Classic (LUNC) network.
Joint L1 Task Force’s proposal 11511 was duly approved with 99.5% of the vote in favour.
In addition, prominent validators, including Allnodes, StakeBin, JESUSisLORD, Lunanauts, and SolidVote, have backed the proposal.
The upgrade will introduce a minimum initial deposit for governance proposals, an upgrade to Cosmos SDK v0.45.13 and Tendermint v0.34.24, and mandatory security updates to the Terra Classic blockchain.
Furthermore, Binance will support the Kava 13 network upgrade scheduled for block height 4,832,500 on May 17 at 15:00 UTC.
The exchange will suspend KAVA deposits and withdrawals beginning at 14:30 UTC on May 17.
Gate.io, MEXC Global, and KuCoin have also announced their support for the Terra Classic upgrade.
Upgrade to Kava 13 includes updates to significant dependencies and provides Kava DAO with additional capabilities to manage community pool funds via the x/community module.
LUNC, USTC, and KAVA trading will operate normally during the network enhancements. Once the upgraded network becomes reliable, Binance will reopen deposits and withdrawals.
LUNC Sees Price Increase
In the past twenty-four hours, the price of LUNC has increased by 2% and is currently trading at $0.000091. The low and high for the past 24 hours are $0.000088 and $0.000093, respectively.
In addition, the trading volume has increased substantially over the past twenty-four hours, indicating a rise in investor interest.
The price of KAVA is $0.91, down 7% in the past 24 hours and up 9% in the past week. The 24-hour minimum and maximum values are $0.90 and $0.98.
