Binance to support Terra upgrade, suspend network deposits and withdrawals

  • Binance will support Terra's v2.21.0 upgrade and pause Terra-network token transfers.
  • The current schedule sets the suspension for 14:00 UTC and upgrade for 15:00 UTC.
  • LUNA rose nearly 15% in 24 hours to approximately $0.0536.

Binance said it will support Terra's v2.21.0 network upgrade on Sept. 21, 2026, temporarily suspending deposits and withdrawals through the Terra network while leaving spot trading uninterrupted. Transfers are scheduled to halt at about 14:00 UTC, ahead of activation at block height 22,942,000 near 15:00 UTC. Binance will manage technical requirements for customers, while Terra Phoenix said holders need take no action. LUNA rose nearly 15% in 24 hours to about $0.0536 and roughly 30% over seven days as trading volume jumped about 1,290%. Futures open interest climbed more than 90% to around $5.1 million before total open interest across venues fell 8.55% in four hours. The upgrade comes as Terra's relaunched network seeks to maintain operations after the 2022 collapse, when its algorithmic stablecoin lost its dollar peg and about $40 billion in value disappeared within days.

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