The world's largest crypto exchange Binance on Wednesday expressed support for the largest upgrade of the Terra Classic (LUNC) network v2.1.1 as the community officially approved Proposal 11561. It will bring the blockchain to parity with Terra 2.0 and other Cosmos chains.
Meanwhile, the core developers of the Joint L1 Task Force (L1TF) are waiting for Google to update the Chrome extension because some components of CosmWasm will not work and will affect dApps until Google applies their update.
Based on the official announcement on June 14, Binance will support Terra Classic v2.1.1 upgrade. The Terra Classic network upgrade will occur at block height 13215800, expected at 14:00 UTC today. Current data suggest the increase will occur sooner than expected.
Binance will suspend LUNC and USTC deposits and withdrawals via the Terra Classic (LUNC) network at 13:00 UTC. Trading activities will not be affected during the network upgrade and users can continue to trade LUNC and USTC.
The crypto exchange will open deposits and withdrawals once the Terra Classic network is stable after the upgrade. Other crypto exchanges such as KuCoin also support Terra Classic network upgrades.
Terra Classic jumped 15% on Tuesday as whales and investors expected a big jump after the upgrade following significant improvements and bright future plans.
The price of LUNC jumped 3% in the last 24 hours, with the price currently trading at $0.000099.
