Bitcoin
Bitcoin (BTC)
$66,655.00 5.11909
Bitcoin price
Ethereum
Ethereum (ETH)
$3,495.85 2.98514
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BNB
BNB (BNB)
$589.71 4.12977
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$170.35 8.63393
Solana price
XRP
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$0.5772740 5.64938
XRP price
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$0.0000178 4.47631
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$0.0000122 6.37588
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Bonk
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$0.0000316 21.24424
Bonk price
Bitcoin
Bitcoin (BTC)
$66,655.00 5.11909
Bitcoin price
Ethereum
Ethereum (ETH)
$3,495.85 2.98514
Ethereum price
BNB
BNB (BNB)
$589.71 4.12977
BNB price
Solana
Solana (SOL)
$170.35 8.63393
Solana price
XRP
XRP (XRP)
$0.5772740 5.64938
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000178 4.47631
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000122 6.37588
Pepe price
Bonk
Bonk (BONK)
$0.0000316 21.24424
Bonk price
Bitcoin
Bitcoin (BTC)
$66,655.00 5.11909
Bitcoin price
Ethereum
Ethereum (ETH)
$3,495.85 2.98514
Ethereum price
BNB
BNB (BNB)
$589.71 4.12977
BNB price
Solana
Solana (SOL)
$170.35 8.63393
Solana price
XRP
XRP (XRP)
$0.5772740 5.64938
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000178 4.47631
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000122 6.37588
Pepe price
Bonk
Bonk (BONK)
$0.0000316 21.24424
Bonk price
Bitcoin
Bitcoin (BTC)
$66,655.00 5.11909
Bitcoin price
Ethereum
Ethereum (ETH)
$3,495.85 2.98514
Ethereum price
BNB
BNB (BNB)
$589.71 4.12977
BNB price
Solana
Solana (SOL)
$170.35 8.63393
Solana price
XRP
XRP (XRP)
$0.5772740 5.64938
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000178 4.47631
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000122 6.37588
Pepe price
Bonk
Bonk (BONK)
$0.0000316 21.24424
Bonk price

Tether to decommission USDT on Algorand and EOS

tether-to-decommission-usdt-on-algorand-and-eos
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Tether to decommission USDT on Algorand and EOS

Tether plans to sunset USDT minting on two major blockchain ecosystems over a year-long transitionary period. 

Stablecoin giant Tether announced its decision to shutter USDT support on Algorand and EOS within the next 12 months, citing a pivot to more community-centric networks. 

An official notice on Monday said the firm plans to focus more on striking a balance between maintainability, usage, and community interest. “Our goal is to allocate resources where they can best enhance security and efficiency while continuing to support innovation across the crypto landscape,” the firm noted in its announcement. 

Tether slashes blockchain support to 12 networks

According to the stablecoin issuer, users can still redeem USDT holdings on Algorand and EOS till next year. Tether also reserved the right to make further announcements and changes on the matter. 

The native tokens of Algorand (ALGO) and EOS (EOS) slid slightly following the news as their respective daily trading volumes spiked over 100%, per CoinMarketCap data. 

By far the largest U.S. dollar-pegged stablecoin on the market, USDT’s withdrawal from Algorand and EOS reduced supported networks from 14 to 12. Barring any changes to the plans, users can now only access USDT on Avalanche, Celo, Cosmos, Ethereum, Liquid Network, Near, Polkadot, Solana, Tezos, The Open Network (TON), and Tron. 

The news marked the first time USDT’s issuer has discontinued its stablecoin on a decentralized network since 2023. Last August, the digital payment titan decommissioned USDT on Bitcoin, Bitcoin Cash, and Kusama. 

Tether USDT circulating supply
USDT circulating supply | Source: IntoTheBlock