The giant cryptocurrency exchange Binance has announced that it has temporarily stopped trading for these 3 altcoin projects in its recent announcements! So why? Here are the details…
Major cryptocurrency exchange Binance Terra will support network updates for KAVA and USTC!
Binance, the world’s largest cryptocurrency exchange, announced support for network upgrades of Terra Classic v2.0.1 and Kava 13 mainnet. As part of these upgrades, Binance will temporarily suspend LUNC and USTC deposits and withdrawals on the Terra Classic (LUNC) network on May 17.
According to the announced blog, the Terra Classic (LUNC) network upgrade is scheduled to take place on May 17 at block height of 12,812,900 at around 17:00 CEST. As a result, deposits and withdrawals for LUNC and USTC via the Terra Classic (LUNC) network will be suspended from approximately 16:30 CEST on 17 May. However, the Kava (KAVA) network upgrade will take place at a block height of 4,832,500, approximately May 17th at 18:00 UTC. As a result, deposits and withdrawals from KAVA will be temporarily suspended from approximately 14:30 (UTC) on May 17.
Also, Binance confirmed that LUNC, USTC and KAVA trading will continue as usual during network upgrades. The Terra Classic (LUNC) network upgrade will occur at block height 12,812,900, and the Kava (KAVA) network upgrade will occur at block height 4,832,500. According to the statements made by the exchange, the timings are estimates and are given for user reference purposes. However, Binance also stated that it will handle all necessary technical aspects for users who have LUNC, USTC and KAVA in their Binance accounts. Meanwhile, according to the announcement, deposits and withdrawals for LUNC, USTC and KAVA will reopen once the upgraded networks are considered stable. No further announcement will be made on this subject.
LUNC and KAVA price status
Terra Classic (LUNC), which is among the altcoin projects closely followed by the crypto money market, is instantly traded at $ 0.000091353951. The popular altcoin project has lost 3.9 percent in the last week. Its immediate market value is $536 million.
Another altcoin project that will receive a network update is KAVA. KAVA is currently trading at $0.903848. In the last week, KAVA has gained 3 percent in value. Looking at the market value, a level of 472 million dollars is seen.
