Terra

Phoenix

bullish

Spot

<h2 id="quick-overview">Quick Overview</h2>
<ul>
 <li>LUNA experienced approximately 15% growth within a single day, pushing weekly gains close to 30%.</li>
 <li>The exchange giant announced backing for Terra’s v2.21.0 network enhancement set for September 21.</li>
 <li>Network transactions will be temporarily suspended during the upgrade, though spot trading continues uninterrupted.</li>
 <li>Trading activity for LUNA exploded by approximately 1,290%, with derivatives positions also climbing substantially.</li>
 <li>Market analyst Crypto Anu noted the price action followed typical patterns seen during protocol upgrades.</li>
</ul>
Terra’s native token experienced significant upward momentum on September 21 following Binance’s <a href="https://www.binance.com/en/support/announcement/detail/83868fe2f87f458896173ccd7c1e9f10" rel="noopener noreferrer nofollow">announcement</a> that it would facilitate the blockchain’s v2.21.0 enhancement.
<figure style="width: 100%" class="wp-caption aligncenter"><img src="https://blockonomi.com/wp-content/uploads/2026/09/chart-7-3.webp" alt="Terra (LUNA) Price" width="1824" height="1248">
 <figcaption><a href="https://www.coingecko.com/en/coins/terra?chart=type%3Dprice%26mode%3Dline%26timeframe%3Dd7" rel="noopener noreferrer nofollow">Terra (LUNA) Price</a>
 </figcaption>
</figure>
The digital asset reached approximately $0.0536, reflecting a near 15% increase during the preceding 24-hour window. Over seven days, LUNA climbed roughly 30%.
Intraday price fluctuations ranged between roughly $0.0464 and $0.0646. This considerable volatility coincided with dramatically elevated market participation.
Market turnover expanded by nearly 1,290% in a single day, signaling intensified investor interest surrounding the protocol enhancement.
<h2 id="exchange-backs-protocol-enhancement">Exchange Backs Protocol Enhancement</h2>
The v2.21.0 enhancement focuses on bolstering network protection, operational reliability, and cross-chain functionality.
Implementation is scheduled at blockchain height 22,942,000 on September 21. The exchange indicated the event would occur near 15:00 UTC, with transaction services halting approximately one hour earlier at 14:00 UTC.
Spot market operations will continue throughout the implementation period. The platform confirmed it would manage all technical aspects for customers maintaining Terra-related holdings.
Transaction services are scheduled to resume after the enhanced network demonstrates consistent performance.
Terra Phoenix developers emphasized that holders need not perform any manual steps. A brief network suspension may be necessary as node operators finalize the transition.
<h2 id="market-participation-intensifies">Market Participation Intensifies</h2>
Technical indicators on LUNA’s daily timeframe reflected building bullish pressure. The token maintained positions above both its 50-period and 200-period simple moving averages.
The Relative Strength Index retreated from 71 to approximately 65.52. This indicated persistent upward momentum, though slightly moderated from peak readings.
Futures market metrics presented contrasting signals. Aggregate open interest in LUNA contracts increased more than 90% daily to roughly $5.10 million.
Specifically on Binance, futures positions reportedly doubled within the same timeframe. Nevertheless, overall LUNA futures open interest across all venues declined approximately 8.55% in the most recent four-hour segment.
<div class="embed-x">
 <blockquote class="twitter-tweet">
 <a href="https://x.com/search?q=%24LUNA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$LUNA</a> just printed +40%.
 Network upgrade incoming.
 Exchanges pausing deposits.
 Volatility unlocked.
 Classic upgrade playbook in full effect.<a href="https://x.com/hashtag/LUNA?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#LUNA</a><a href="https://x.com/hashtag/Terra?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Terra</a><a href="https://t.co/ng0yu4k0oF" rel="noopener noreferrer nofollow">pic.twitter.com/ng0yu4k0oF</a>
 — Crypto.Anu<img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f40d.png" alt="🐍" style="height: 1em; max-height: 1em;"> (@CryptoAnu_) <a href="https://x.com/CryptoAnu_/status/2101889154191876236?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 21, 2026</a>
 </blockquote>
</div>
A social media post from analyst Crypto Anu highlighted that LUNA generated approximately 40% price movement surrounding the protocol enhancement, transaction pauses, and heightened volatility. The analyst characterized this as a recognizable pattern during network upgrades.
Currently, market attention centers on the v2.21.0 implementation, with major exchange support in place as LUNA maintains prices substantially above recent lows amid sustained elevated trading activity.
The post <a href="https://blockonomi.com/terra-luna-rallies-15-following-binances-v2-21-0-upgrade-announcement/" rel="noopener noreferrer nofollow">Terra (LUNA) Rallies 15% Following Binance’s v2.21.0 Upgrade Announcement</a> appeared first on <a href="https://blockonomi.com" rel="noopener noreferrer nofollow">Blockonomi</a>.

Terra (LUNA) Rallies 15% Following Binance’s v2.21.0 Upgrade Announcement

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