LUNC News: Major Exchange Supports Terra Classic Parity Upgrade; L1TF Awaits Google Update

The Terra Classic (LUNC) network has reached a significant milestone with the official passage of Proposal 11561, marking a pivotal moment in the ecosystem's development. A leading cryptocurrency exchange has announced its full support for the Terra Classic v2.1.1 upgrade, which aims to bring the blockchain to feature parity with Terra 2.0 and other Cosmos chains. This upgrade is designed to restore the capability for developers and projects to build and deploy decentralized applications (dApps) on the Terra Classic network, reigniting development interest in the ecosystem.

Major Exchange Announces Support for Terra Classic v2.1.1 Parity Upgrade

Following the network proposal approval, a major cryptocurrency exchange officially announced its support for the Terra Classic v2.1.1 upgrade, demonstrating institutional commitment to the network's recovery and development. The network upgrade is scheduled to occur at block height 13215800, with an anticipated execution time of 14:00 UTC, though historical data suggests such upgrades may occur ahead of schedule.

To ensure a smooth transition during the upgrade, leading exchanges will temporarily suspend LUNC and USTC deposits and withdrawals through the Terra Classic network. However, users can continue to actively trade LUNC and USTC during this period without interruption. Exchange platforms plan to resume deposit and withdrawal services once the Terra Classic network stabilizes following the upgrade. This measured approach demonstrates best practices in exchange infrastructure management during critical network upgrades.

Other major cryptocurrency trading platforms, including established exchanges in the industry, have also announced their support for the Terra Classic network upgrade, indicating broad sector backing for this initiative. However, the Joint L1 Task Force (L1TF) has identified a technical consideration that requires attention. According to L1TF project manager LuncBurnArmy, dApps may experience functional issues following the upgrade, as certain WebAssembly (wasm) components will only operate properly after Google updates its Chrome extension. The existing Station web and mobile wallet versions are expected to continue functioning normally during this period. It is important to note that such Google updates can require several days to implement, necessitating patience from the community during this transition phase.

LUNC Price Builds Upside Momentum

Market sentiment surrounding the Terra Classic upgrade has been decidedly positive, with significant price appreciation reflecting investor confidence in the network's future. Terra Classic experienced substantial price appreciation in anticipation of the upgrade, driven by expectations of significant improvements and upcoming development plans.

Recent market data reflects continued positive momentum, with LUNC demonstrating resilience in the current market environment. The 24-hour trading range and volume metrics have shown increased market participation and interest in the asset. This combination of price stability and activity metrics suggests sustained confidence in LUNC among traders and investors throughout 2025.

Conclusion

The Terra Classic network's v2.1.1 upgrade represents a transformative moment for the ecosystem, with major exchange support and broad industry backing providing strong validation for the initiative. The upgrade is designed to restore critical functionality and parity with other Cosmos chains, enabling renewed development and innovation on the platform. While minor technical considerations exist regarding Chrome extension updates for certain dApps, these represent temporary implementation details rather than fundamental obstacles. The market's response demonstrates community confidence in the upgrade's potential to reinvigorate the Terra Classic ecosystem and attract new development and investment, addressing the ongoing question of what's happening with Terra Classic.

FAQ

Will Terra Classic be worth anything?

Terra Classic (LUNC) has potential value driven by community support and ecosystem development. Its worth depends on market adoption, tokenomics improvements, and investor sentiment. While speculative, LUNC could appreciate significantly during bull market cycles.

What does Terra Classic do?

Terra Classic is an open-source, decentralized blockchain secured by Tendermint consensus and built on Cosmos-SDK. It operates independently, enabling users to build and deploy decentralized applications and manage digital assets on its network.

Why did Terra Classic crash?

Terra Classic crashed in May 2022 when UST stablecoin lost its peg to the U.S. dollar. The algorithmic mechanism designed to maintain stability failed, causing LUNA to hyperinflate and triggering a market collapse. Poor liquidity and design flaws were key factors.