Tether Issuer Stablecoin abandoned his plan to freeze the clever USDT agreements in five chains, claiming that the tokens would remain transmitted, but they will no longer be issued or listed.
The changed plan affects users on the Omni, Bitcoin Cash SLP, Kusama, EOS and Algrand, Tether he said On Friday after receiving feedback from members of these ecosystems. “According to feedback from the community of these interrupted blockchains, Tether has revised this approach and does not freeze intelligent contracts in these networks.”
While users will still be able to transfer tokens on these blocks, Tether interrupts the direct emission and redemption of these chains. “This means that tokens will no longer be officially supported as other Tether tokens.” The first plan was the end of support on September 1.
The decision is consistent with the wider Tether strategy to maintain concentration on expanding support for cryptocurrency ecosystems with forceful programmers’ activity, scalability and user demand – without completely abandoning the chains he has long been operated. Only a miniature number of clever blocks of layer 1 based on contracts managed to achieve large-scale users’ adoption and offer practical exploit of exploit, including the throne and ethereum-DWA tether chain provides the highest service.
Throne and Ethereum are adopted by USDT
The throne and ethereum have 80.9 billion dollars and $ 72.4 billion, USDT delivery circling on their chains, while the BNB chain complements the three best at 6.78 billion dollars, Defillam data can be seen.
Solana, along with the arbitrum and base chains, belong to other blooming cryptographic ecosystems with Stablecoin’s severe activity, although above all they exploit Stablecoin Circle, not USDT.
Omni, which is to be most affected
Review of USD balance in the affected blocks can be seen This layer Omni will have the most influence, because it will contain net circulation of USD 82.9 million, while other networks have a smaller share: EOS has $ 4.2 million, while Bitcoin Cash SLP, Algrand and Kusama have less than USD 1 million.
Tether support for these blockchains has been operating for two years. In August 2023, the company announced that it would no longer spend USDT on an omni layer, Kusama and Bitcoin Cash SLP. In June 2024, Tether stopped Minting at EOS and Algorand.
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The total market capital of Stablecoins is currently USD 285.9 billion, run by USDT and USDC, respectively USD 167.4 billion and USD 71.5 billion, show Coingcko data.
Stablecoin market, which is to strengthen in the coming years
Last month, US President Donald Trump signed the Genius law, which, according to many analysts, will augment the dominance of the US dollar, promoting Stablecouins, set up a dollar, competing with other currencies and strengthening the role of a dollar as a leading reserve currency in the world.
The US Treasury Department expects the Stablecoin market to augment to $ 2 trillion by 2028.
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