The world's largest crypto exchange Binance on Wednesday said it will support the Terra Classic v2.0.1 network upgrade and the Kava 13 major upgrade.
Binance will suspend LUNC and USTC deposits and withdrawals on the Terra Classic (LUNC) network today, May 17. Deposits and withdrawals for KAVA will also be suspended today.
Based on the official announcement on May 17, Binance will support the Terra Classic (LUNC) network upgrade scheduled to take place at block 12,815,210, estimated at 16:45 on May 17. The blockchain will be stopped at the block until the upgrade is complete.
This improvement will introduce several features to the Terra Classic block, including a minimum initial deposit for governance proposals, upgrades to Cosmos SDK v0.45.13 and Tendermint v0.34.24, and mandatory security updates.
Additionally, Binance will support the Kava 13 network upgrade which is scheduled at 4,832,500. The exchange will suspend KAVA deposits and withdrawals starting from May 17 at 14:30 UTC.
Other crypto exchanges including Gate.io, MEXC Global, and KuCoin have also announced support for the Terra Classic upgrade.
The price of LUNC increased by 2% in the last 24 hours, with the price currently trading at $0.000090. At the same time trading volume has increased significantly in the last 24 hours, indicating increased interest among traders.
