Binance Pauses Terra Transfers for Major LUNA Network Upgrade

Binance has announced a temporary suspension of deposits and withdrawals for all tokens on the Terra (LUNA) network to support the blockchain’s v2.18 network upgrade. The pause affects only on-chain transfers trading of LUNA and Terra-based tokens will continue normally on the exchange.

According to Binance, the suspension begins at approximately 12:05 UTC, ahead of Terra’s scheduled upgrade at around 13:05 UTC. Such temporary halts are standard during major network updates to prevent transaction-related issues such as stuck deposits, failed withdrawals, or balance mismatches.

Why Binance Is Suspending Terra (LUNA) Transfers Today

The Terra v2.18 upgrade introduces several enhancements aimed at improving network security, performance, and stability. The update also addresses issues related to Inter-Blockchain Communication (IBC), making cross-chain activity more reliable. As part of the upgrade, the network will implement corrective mechanisms intended to restore proper asset balances across chains, improving the ecosystem’s overall integrity.

By pausing Terra-based transfers, Binance ensures that no user attempts to deposit or withdraw tokens while the network may be temporarily unstable or processing changes. This helps safeguard user transactions during the upgrade window.

What Binance Users Should Expect During the Upgrade

For users, the key impact is on timing. Any deposit made shortly before the suspension may take additional time to reflect in accounts, and withdrawals initiated during the pause will not process until the network stabilizes. Binance has stated that deposits and withdrawals will resume once the Terra blockchain is confirmed to be operating normally after the upgrade.

Meanwhile, all spot and futures trading pairs involving Terra (LUNA) remain fully available. Traders can continue executing orders, adjusting positions, and participating in market activity without interruption.

How the Terra v2.18 Upgrade Benefits the Ecosystem

The Terra development team designed the v2.18 update to enhance blockchain reliability, reduce technical vulnerabilities, and streamline future upgrades. Improvements to IBC functionality are expected to strengthen interoperability across the broader multichain environment. Additionally, the upgrade includes measures to maintain accurate token accounting after earlier cross-chain discrepancies, promoting long-term trust and stability.

As with many blockchain upgrades, short-term market volatility may occur as users anticipate post-upgrade performance. However, the long-term goal is to position Terra for stronger network growth and improved developer and user experiences.

FAQs

1. Why are Terra (LUNA) deposits and withdrawals paused on Binance today?

Binance temporarily suspended transfers to support the Terra v2.18 network upgrade and prevent issues during the chain update.

2. Is trading for Terra (LUNA) affected?

No. Trading, including spot and derivatives, remains fully available. Only deposits and withdrawals are paused.

3. When will Terra deposits and withdrawals resume?

They will reopen once the Terra network upgrade is completed and the blockchain is confirmed stable.

4. Are my Terra (LUNA) tokens safe on Binance during the suspension?

Yes. Tokens stored on Binance remain fully secure. The suspension is routine for network upgrades.

5. What improvements are included in the Terra v2.18 upgrade?

The update focuses on better security, improved performance, and fixes related to IBC balances, enhancing the blockchain’s stability and interoperability.