Terra’s LUNA token jumped sharply on September 21, 2026, after Binance confirmed support for the network’s v2.21.0 upgrade. LUNA was trading around $0.0536 after gaining nearly 15% over 24 hours, bringing its weekly advance close to 30%. The 24-hour trading range stretched from about $0.0464 to $0.0646, reflecting elevated volatility around the upgrade.
Binance said it will support the Terra v2.21.0 network upgrade scheduled for September 21 at block height 22,942,000. The exchange expects the event around 15:00 UTC, with deposit and withdrawal suspensions beginning at about 14:00 UTC. Trading will remain open during the upgrade, and Binance will handle the technical requirements for users holding Terra-based assets on the platform.
The Terra Phoenix team said users do not need to take any action, although a short network pause may occur while validators complete the upgrade. The upgrade is aimed at improving network security, stability, and interoperability. Deposits and withdrawals are expected to reopen once the upgraded network is judged stable.
Market activity increased dramatically alongside the price move. LUNA trading volume surged by nearly 1,290% over the past day. Terra futures open interest rose more than 90% over 24 hours to about $5.10 million, and Binance futures open interest reportedly doubled. However, total LUNA futures open interest across exchanges fell about 8.55% over the latest four-hour period.
Technical indicators also strengthened. LUNA was trading above the 50-day simple moving average and slightly above the 200-day SMA. The Relative Strength Index eased from 71 to about 65.52, suggesting momentum remained strong but had cooled from more elevated levels.
Trader Crypto Anu described the move as a familiar upgrade-driven volatility pattern, noting that “LUNA just printed +40%. Network upgrade incoming. Exchanges pausing deposits. Volatility unlocked.” The trader called it a classic upgrade playbook in full effect.
