Altcoins News
By Evie Vavasseur
1 / 15
Tether’s Revised Approach. Initially, Tether had intended to end support on these networks entirely by September 1,…
2 / 15
Focus on High-Activity Networks. Tether’s decision aligns with its broader strategy to concentrate on blockchain ecosystems…
3 / 15
Impact on Affected Blockchains. Among the five networks, Omni Layer will experience the most significant impact, holding…
4 / 15
Stability in Transfers. By keeping transfers operational, Tether ensures that users on these networks are not locked out…
5 / 15
Growth of the Stablecoin Market. USDT and USDC continue to dominate the stablecoin market, with circulating market caps of $167.
6 / 15
Strategic Implications for Investors. Tether’s focus on high-activity networks is likely to benefit investors and DeFi participants in…
7 / 15
Conclusion. Tether’s decision to maintain transferability on five blockchains while ending issuance and…
8 / 15
Stablecoin issuer Tether has reversed its earlier plan to freeze USDT operations on five blockchains, allowing transfers to continue while halting new issuance and redemption.
9 / 15
Initially, Tether had intended to end support on these networks entirely by September 1, discontinuing transfers and smart contract functionality.
10 / 15
“Following feedback from the communities of these discontinued blockchains, Tether has revised this approach and will not freeze the smart contracts on these networks,” the…
11 / 15
Tether’s decision aligns with its broader strategy to concentrate on blockchain ecosystems demonstrating strong developer engagement, scalability, and user demand.
12 / 15
Other ecosystems, including Solana, and Ethereum layer-2 networks such as Arbitrum and Base, show healthy stablecoin activity.
13 / 15
Among the five networks, Omni Layer will experience the most significant impact, holding approximately $82.9 million in USDT circulation. EOS follows with $4.
14 / 15
Though the amount of USDT affected is relatively small compared to its total market supply, the decision marks a long-term shift in Tether’s blockchain support strategy.
15 / 15
USDT and USDC continue to dominate the stablecoin market, with circulating market caps of $167.4 billion and $71.5 billion, respectively.
The Currency Analytics
Want the full story?