Binance Suspends LUNA Deposits/Withdrawals for Upgrade on March 31, 2025

Binance has announced that it will suspend Terra (LUNA) network token deposits and withdrawals on March 31, 2025, at 21:40 (UTC+8) to support the network's upcoming upgrade and hard fork. This decision is aimed at providing users with a seamless experience during the transition. The project team is scheduled to conduct the network upgrade and hard fork at block height 14,958,500, which is expected to occur at 22:40 on March 31, 2025, UTC+8.

This move by Binance underscores the platform's commitment to supporting the Terra ecosystem and ensuring that users can navigate the network upgrade smoothly. The hard fork is a significant event for the Terra network, as it involves a fundamental change to the protocol that could have wide-ranging implications for the ecosystem. By suspending deposits and withdrawals, Binance aims to prevent any potential disruptions or issues that could arise during the upgrade process.

The network upgrade and hard fork are critical steps for the Terra ecosystem, as they are designed to address various challenges and improve the overall functionality of the network. The hard fork will introduce new features and enhancements that are expected to benefit users and developers alike. By supporting this upgrade, Binance is demonstrating its dedication to fostering innovation and growth within the blockchain industry.

For users of the Terra network, this announcement serves as a reminder to plan accordingly and ensure that their tokens are securely stored during the upgrade period. While the suspension of deposits and withdrawals may cause temporary inconvenience, it is a necessary precaution to safeguard the integrity of the network and the assets of its users. Binance's proactive approach to supporting the upgrade reflects its role as a leading player in the cryptocurrency exchange market, committed to providing a reliable and secure platform for its users.