TLDR
- Terra’s LUNA token jumped about 15% in 24 hours, extending its weekly gain to nearly 30%.
- Binance said it will support the Terra v2.21.0 network upgrade scheduled for September 21.
- Deposits and withdrawals on the Terra network will be paused temporarily, while trading remains open.
- LUNA trading volume surged by nearly 1,290%, while futures open interest also increased sharply.
- Trader Crypto Anu said the move followed a familiar upgrade-driven volatility pattern.
Terra (LUNA) moved sharply higher on September 21 after Binance confirmed support for the network’s upcoming v2.21.0 upgrade.
LUNA was trading around $0.0536 after gaining nearly 15% over 24 hours. The token’s weekly advance reached close to 30%.
The 24-hour trading range stretched from about $0.0464 to $0.0646. That wide move came alongside a steep rise in trading activity.
Volume increased by almost 1,290% over the past day, showing a sharp jump in market participation around the upgrade.
Binance supports Terra upgrade
The Terra v2.21.0 upgrade is aimed at improving network security, stability, and interoperability.
The upgrade is set to take place at block height 22,942,000 on September 21. Binance said the event is expected around 15:00 UTC, with deposit and withdrawal suspensions beginning at about 14:00 UTC.
Trading will not be affected during the upgrade. Binance said it will handle the technical requirements for users holding Terra-based assets on the platform.
Deposits and withdrawals are expected to reopen once the upgraded network is judged to be stable.
The Terra Phoenix team also said users do not need to take any action. A short network pause may occur while validators complete the upgrade.
Trading activity and momentum rise
LUNA’s daily chart also showed stronger technical momentum. The token was trading above the 50-day simple moving average and slightly above the 200-day SMA.
The Relative Strength Index had eased from 71 to about 65.52. That suggests momentum remained strong but had cooled from more elevated levels.
Derivatives data showed a mixed picture. Terra futures open interest rose more than 90% over 24 hours to about $5.10 million.
On Binance, futures open interest reportedly doubled over the same period. However, total LUNA futures open interest across exchanges fell about 8.55% over the latest four-hour period.
$LUNA just printed +40%.
Network upgrade incoming.
Exchanges pausing deposits.
Volatility unlocked.
Classic upgrade playbook in full effect.#LUNA #Terra pic.twitter.com/ng0yu4k0oF
— Crypto.Anu🐍 (@CryptoAnu_) September 21, 2026
A tweet from trader Crypto Anu said LUNA had printed a roughly 40% move around the network upgrade, exchange deposit pauses, and rising volatility. The trader described it as a familiar upgrade-driven market setup.
For now, the latest factual focus remains the v2.21.0 upgrade, with Binance supporting the process while LUNA trades well above its recent lows and market activity remains elevated.
