Binance Steps In For Terra As LUNA Volume Explodes Overnight
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Binance said Monday it will support an upgrade of the Terra (LUNA) network later in the day, and the token climbed about 15%. The exchange announced at 03:00 UTC that deposits and withdrawals of tokens on the Terra network stop at about 14:00 UTC on Sept. 21. The pause covers transfers only. Trading in LUNA carries on as normal, and Binance said it will handle the technical requirements for users who hold the token there. Transfers reopen once the exchange judges the upgraded network stable, and it does not plan to post a further notice. The v2.21.0 release activates at block height 22,942,000, which Binance expects the network to reach at roughly 15:00 UTC, an hour earlier than some other accounts of the schedule. The upgrade is aimed at network security, stability and interoperability, the layers that sit under every transaction and application on the chain. The project team published its own notice. The Terra Phoenix team said holders need to do nothing, though a short network pause may occur while validators update. Also Read: Polymarket Bug Let Thieves Walk Into Accounts Without A Password LUNA traded near $0.0536 after a gain of almost 15% in 24 hours, stretching its advance over the week to roughly 30%. The token swung between $0.0464 and $0.0646 in that stretch. Daily volume rose close to 1,290%, a move that usually marks fresh speculative money rather than routine...
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