The announcement made on Friday outlined Binance’s support for LUNC and included additional details about the upgrade.
Binance to support new important Luna Classic upgrade
The new Luna Classic upgrade (Proposal 11242) will prevent LUNC from being re-minted after burns. The LUNC community voted 96% in favour of the upgrade.
When the upgrade to the Luna Classic blockchain is due, Binance will execute it on their exchange whilst ensuring that LUNC, ANC, and USDT trading remains unaffected.
Binance will review and adjust the withdrawal fees for LUNC, USTC and ANC via the Terra Classic (LUNC) network in accordance with market conditions, where applicable.
We will reopen deposits and withdrawals for the Terra Classic (LUNC) network once we deem the upgraded network to be stable, and we will not notify users in a further announcement.
Over the last 24 hours, Luna Classic has climbed 6.1%. Investors reacted positively to the news of Binance’s continued support of LUNC.