Terra Luna Classic Completes v3.1.5 Upgrade with Binance Support

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The Terra Luna Classic (LUNC) ecosystem has taken a significant step forward with the successful completion of its v3.1.5 network upgrade, marking a pivotal moment in its ongoing recovery and development. Backed by support from Binance, one of the world’s largest cryptocurrency exchanges, this upgrade strengthens network security, improves transaction performance, and sets the stage for future innovations such as Tax2Gas implementation.

This milestone reflects growing confidence in the Terra Classic blockchain, reaffirming its resilience despite past challenges. As the ecosystem evolves, community-driven efforts—especially token burn initiatives—are playing a crucial role in restoring value and stability to LUNC and its associated assets like USTC.

👉 Discover how leading platforms are supporting major blockchain upgrades like Terra Luna Classic.

What’s New in the v3.1.5 Upgrade?

On September 18, Terra Luna Classic developers successfully implemented the v3.1.5 upgrade, which introduced critical improvements to the network infrastructure. The chain halted at block height 19,850,000 to apply essential patches through a coordinated pull request for the terrad client. The upgrade officially began at UTC 11:26:59, with the first post-upgrade block proposed by validator Interstellar Lounge—making it the fastest network upgrade in Terra Classic’s history.

Key technical enhancements include:

The most notable aspect of this update is the critical security patch for wasmd, the core module responsible for handling smart contracts on the Cosmos SDK-based chain. This fix addresses vulnerabilities that could potentially be exploited, ensuring safer contract execution and improved overall network integrity.

Additionally, the upgrade boosts transaction efficiency, reducing latency and improving throughput—a vital improvement for user experience and scalability. It also lays the groundwork for Tax2Gas, an upcoming feature expected to optimize how transaction fees are managed, particularly for tax-imposed operations within the network.

These upgrades are not just technical tweaks—they represent a strategic push toward long-term sustainability and enhanced functionality within the Luna Classic ecosystem.

Binance’s Role in Supporting the Upgrade

In alignment with the network upgrade, Binance announced temporary suspension of deposits and withdrawals for Terra Classic ecosystem tokens, including LUNC and USTC. This proactive measure ensures smooth integration across nodes and minimizes disruptions during the transition period, ultimately enhancing user experience and system reliability.

Beyond logistical support, Binance continues to play a central role in revitalizing market confidence in LUNC through its monthly token burn program. The exchange has consistently destroyed billions of LUNC tokens each month—a move designed to reduce supply and increase scarcity over time.

To date, Binance has burned over 64.47 billion LUNC tokens in the past two years alone, accounting for approximately 48.5% of all community-driven burns. This level of participation underscores Binance's commitment to supporting community-led recovery efforts and stabilizing the token’s economic model.

Such actions send a strong signal to investors: major exchanges recognize the long-term potential of the Terra Classic blockchain and are actively contributing to its revival.

👉 Learn how token burn mechanisms can influence cryptocurrency value and sustainability.

Market Reaction: LUNC and USTC Prices Adjust Amid Broader Sentiment

Despite the positive technical developments, both LUNC and USTC prices experienced pullbacks, reflecting broader market sentiment rather than project-specific weaknesses.

Over the past 24 hours:

The rise in volume suggests that many investors view the recent dip as a buying opportunity, especially given the solid progress behind the scenes.

Meanwhile, USTC (Terra Classic’s version of the original UST) is currently trading at **$0.01645**, down 1% over 24 hours and nearly 8% over the past week. Its price range during this period was between $0.01633 and $0.01711.

Notably:

While declining open interest may suggest reduced speculative leverage in the short term, it also indicates a potential shift toward more stable holding patterns—a sign of maturing market behavior around USTC.

Core Keywords Driving Visibility

To align with search intent and improve discoverability, key terms naturally integrated throughout this article include:

These keywords reflect high-interest topics among crypto users researching network updates, exchange support, price trends, and technical developments related to legacy chains like Terra Classic.

Frequently Asked Questions (FAQ)

What is the significance of the Terra Luna Classic v3.1.5 upgrade?

The v3.1.5 upgrade introduces critical security fixes—especially for wasmd—improves transaction efficiency, and prepares the network for future features like Tax2Gas. It represents a major step in strengthening the reliability and scalability of the Terra Classic blockchain.

Why did Binance suspend LUNC and USTC deposits/withdrawals?

Binance temporarily paused deposits and withdrawals to ensure seamless synchronization with the network upgrade. This is standard practice during major blockchain upgrades to prevent transaction failures or data inconsistencies.

How does Binance’s LUNC token burn impact the market?

By regularly destroying large quantities of LUNC, Binance reduces circulating supply, which can help increase scarcity and potentially support price appreciation over time—especially when combined with rising demand or usage.

What is Tax2Gas and why is it important?

Tax2Gas is a proposed mechanism that allows users to pay transaction fees using taxed tokens, improving usability and reducing friction in fee payments. The v3.1.5 upgrade lays foundational support for this feature.

Is USTC backed by reserves like the original UST?

No, USTC is not algorithmically stabilized or backed by reserves. It operates as a community-maintained remnant of the original Terra ecosystem and derives value primarily from community adoption and utility within decentralized applications.

Can Terra Luna Classic recover its former prominence?

While full recovery to previous highs remains uncertain, continuous upgrades, exchange support (like Binance’s), active development, and strong community engagement suggest that Terra Classic maintains relevance in the broader blockchain landscape.

👉 Explore how next-generation blockchain upgrades are shaping the future of decentralized networks.

Final Thoughts

The successful deployment of the Terra Luna Classic v3.1.5 upgrade demonstrates that even after significant setbacks, determined communities can drive meaningful progress. With robust technical improvements, strong backing from major players like Binance, and consistent token burn programs enhancing economic fundamentals, LUNC and USTC continue to hold relevance in today’s crypto ecosystem.

While market prices may fluctuate due to external sentiment, the underlying developments signal long-term resilience. For investors and developers alike, Terra Classic offers a compelling case study in decentralization, recovery, and innovation persistence.

As the roadmap moves forward—with features like Tax2Gas on the horizon—the focus will remain on building utility, trust, and sustainable growth within this enduring blockchain network.