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Binance to Support Terra (LUNA) Phoenix Upgrade

Binance, the world's largest cryptocurrency exchange, has announced its support for the Terra (LUNA) Phoenix v2.4 software upgrade. The upgrade is expected to take place on July 18 at 13:00 UTC and Binance will suspend LUNA deposits and withdrawals an hour before the upgrade.

However, LUNA trading will continue to work normally during the network upgrade. The Terra community passed the proposal for the upgrade with a majority of 98.22% "Yes" votes. LUNA price has increased by almost 10% in the past 24 hours, currently trading at $0.69.

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