Tether Abandons Plan To Freeze USDT On Five Chains
Tether has decided not to freeze USDT smart contracts on Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand, allowing tokens to remain transferable but discontinuing issuance and redemption on these chains. This decision follows community feedback and aligns with Tether's strategy to focus on ecosystems with strong developer activity and user demand. Tron and Ethereum dominate USDT adoption, with $80.9 billion and $72.4 billion in circulation, respectively. Omni Layer will be most affected, holding $82.9 million in USDT. Tether's reduction of support for these blockchains has been planned for two years. The total stablecoin market cap is $285.9 billion, with expectations to grow to $2 trillion by 2028, bolstered by recent legislation promoting stablecoins.
