Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Genius Act votes on May 19: Will the US finally regulate Stablecoins?

2025-05-17

Jan 2024 SECs x Account Hacker received 14 months in prison for cyber fraud

2025-05-17

The Alice Collective elevates ‘My Neighbor Alice’ in collaboration with Persona Journey

2025-05-17
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    The Alice Collective elevates ‘My Neighbor Alice’ in collaboration with Persona Journey

    2025-05-17

    Cardano (ADA) Founder reveals long-awaited AirDrop details! Will be distributed among 37 million portfolios! – Some users cannot receive AirDrop!

    2025-05-17

    Top 5 block chains due to 7-day growth in active addresses and transactions

    2025-05-17

    SFT protocol to redefine Web3 Sports Landscape in collaboration with Athleta Network

    2025-05-17

    Rideshare Company Lyft taps bee cards for decentralized mapping data

    2025-05-17
  • NFT

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17

    Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

    2025-05-16

    Founder wallet emptied while he leaves

    2025-05-15

    British Museum puts sculptures from Dürer’s ‘Rhinoceros’ on Bitcoin Blockchain

    2025-05-14

    The Shibuya streaming platform from PPLEPPLEASR is back with 5 epic short films

    2025-05-14
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Michael Burry van Big Short abruptly sells one ‘recession-proof’ assets

    2025-05-17

    $ 40 billion in XRP on the road – where are they going?

    2025-05-17

    Bitcoin who sees heavy accumulation on Coinbase and Binance, says analysis company Glassnode – here is the prospects

    2025-05-17

    Analyst who mentioned XRP price mark at $ 0.5 says that the increase in this level is coming

    2025-05-17

    Billionaire Warren Buffett dumps $ 3,230,000,000 from Berkshire’s exposure to Citigroup, Bank of America and Capital One after leaving Wells Fargo, JPMorgan Chase

    2025-05-17
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-10
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Web 3»Tether stops generating USDT on EOS and Algorand gives 1 year for redemptions
Web 3

Tether stops generating USDT on EOS and Algorand gives 1 year for redemptions

2024-06-24No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Tether, the issuer of USD₮ tokens, is shifting its focus to “improving community-driven blockchain support.” As part of this strategic transition, Tether will discontinue support for the EOS and Algorand deployments.

In line with its commitment to maintaining a robust and innovative blockchain ecosystem, Tether declared that it consistently evaluates current transportation layers to balance maintainability, use, and community interest. This strategic move highlights the importance of community interest in determining USD₮ stakes on specific blockchains.

Security architecture and usability are reportedly critical factors in Tether’s evaluation process for blockchain networks. By prioritizing these aspects, Tether aims to effectively allocate resources to strengthen security and efficiency while supporting innovation in the crypto landscape.

Effective immediately, Tether will no longer mint USD₮ on EOS and Algorand, while the redemption of USD₮ on these platforms will continue for the next twelve months. This period aims for a minimally disruptive transition.

According to data about the chainthere is only $17 million USDT distributed among 39,000 holders on Algorand with a reserve allocation of $18 trillion. On EOSthere are $85 million USDT tokens distributed among 32,000 holders. Compared to other chains, these values ​​are extremely low for the token’s market cap of $112 billion.

According to Tether’s announcement, the company is encouraging the community to expand the use cases of USD₮ on supported protocols and chains. This approach aims to leverage community input to determine the future direction of Tether’s blockchain integrations, suggesting that smaller chains may look to bridge tokens from other chains rather than Tether directly adding low volumes to the battle goes. The strategic decision to end support for EOS and Algorand reflects a broader goal to focus resources on platforms that align with community interests and deliver sustainable benefits.

See also  You'll soon be able to use USDC for most online purchases

Tether assures its users that the transition will be managed carefully to minimize disruptions, reaffirming its mission to contribute to a sustainable and democratized financial system. The company’s emphasis on community-driven decisions and resource optimization illustrates its ongoing efforts to adapt to the changing needs of the blockchain ecosystem.

Mentioned in this article
Last Alpha Market report

Source link

Algorand EOS generating redemptions Stops Tether USDT Year
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Tether announces QVAC, the upcoming development platform for infinite and omnipresent intelligence – AI agents bet and evolve on user devices, not Big Tech Datacenters

2025-05-16

XRP repairs 3rd place, does Tether get over: do you have to expect a rally now?

2025-05-13

Tron and Ethereum fight for the USDT top position

2025-05-13

Rooted in the south, built for the future

2025-05-12
Add A Comment

Comments are closed.

Top Posts

Everything about Bitcoin’s market dynamics – these important trends will form the future!

2025-03-08

Ethereum: THIS Group Is Cutting Its Positions: What It Means for ETH

2024-12-31

Will Bitcoin Enter a Bull Market? $64K resistance provides the answer!

2024-09-22
Editors Picks

BTC demand for short positions indicates volatility and FUD

2024-09-10

Will Bitcoin Fall Below $40,000 by the End of January?

2024-01-22

What about the fate of Bitcoin after GBTC outflows fall for the first time?

2024-01-29

Joe Montana and John Elway star in Dapper Labs NFT promotion ahead of the Super Bowl

2024-02-11
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Genius Act votes on May 19: Will the US finally regulate Stablecoins?

Jan 2024 SECs x Account Hacker received 14 months in prison for cyber fraud

The Alice Collective elevates ‘My Neighbor Alice’ in collaboration with Persona Journey

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$103,229.140.48%
  • ethereumEthereum(ETH)$2,479.280.31%
  • tetherTether USDt(USDT)$1.000.03%
  • rippleXRP(XRP)$2.361.59%
  • binancecoinBNB(BNB)$641.430.92%
  • solanaSolana(SOL)$166.281.17%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2157750.28%
  • cardanoCardano(ADA)$0.740.06%
  • tronTRON(TRX)$0.2704880.37%
  • suiSui(SUI)$3.771.89%
  • chainlinkChainlink(LINK)$15.33-0.12%
  • avalanche-2Avalanche(AVAX)$22.21-0.59%
  • stellarStellar(XLM)$0.286768-0.05%
  • hyperliquidHyperliquid(HYPE)$26.07-0.97%
  • shiba-inuShiba Inu(SHIB)$0.0000140.05%
  • unus-sed-leoUNUS SED LEO(LEO)$8.950.54%
  • hedera-hashgraphHedera(HBAR)$0.1916370.69%
  • bitcoin-cashBitcoin Cash(BCH)$394.721.04%
  • the-open-networkToncoin(TON)$3.072.05%
  • litecoinLitecoin(LTC)$96.17-1.62%
  • polkadotPolkadot(DOT)$4.62-0.79%
  • moneroMonero(XMR)$336.851.10%
  • bitget-tokenBitget Token(BGB)$4.961.18%
  • daiDai(DAI)$1.000.01%
  • pepePepe(PEPE)$0.000012-0.27%
  • ethena-usdeEthena USDe(USDE)$1.00-0.02%
  • piPi(PI)$0.69-3.25%
  • bittensorBittensor(TAO)$420.561.41%
  • uniswapUniswap(UNI)$5.74-2.21%
  • aaveAave(AAVE)$221.46-1.03%
  • nearNEAR Protocol(NEAR)$2.69-1.09%
  • aptosAptos(APT)$5.06-1.42%
  • okbOKB(OKB)$53.250.16%
  • ondo-financeOndo(ONDO)$0.921.38%
  • kaspaKaspa(KAS)$0.108990-4.18%
  • internet-computerInternet Computer(ICP)$5.160.42%
  • ethereum-classicEthereum Classic(ETC)$18.09-0.47%
  • gatechain-tokenGateToken(GT)$21.630.04%
  • crypto-com-chainCronos(CRO)$0.0977970.24%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.683.32%
  • mantleMantle(MNT)$0.73-0.99%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2326192.29%
  • vechainVeChain(VET)$0.027774-0.05%
  • render-tokenRender(RENDER)$4.542.11%
  • usd1World Liberty Financial USD(USD1)$1.000.07%
  • ethenaEthena(ENA)$0.351481-6.57%
  • filecoinFilecoin(FIL)$2.79-0.02%
  • algorandAlgorand(ALGO)$0.2159850.02%
  • cosmosCosmos(ATOM)$4.730.91%
  • bitcoinBitcoin(BTC)$103,229.140.48%
  • ethereumEthereum(ETH)$2,479.280.31%
  • tetherTether USDt(USDT)$1.000.03%
  • rippleXRP(XRP)$2.361.59%
  • binancecoinBNB(BNB)$641.430.92%
  • solanaSolana(SOL)$166.281.17%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2157750.28%
  • cardanoCardano(ADA)$0.740.06%
  • tronTRON(TRX)$0.2704880.37%
  • suiSui(SUI)$3.771.89%
  • chainlinkChainlink(LINK)$15.33-0.12%
  • avalanche-2Avalanche(AVAX)$22.21-0.59%
  • stellarStellar(XLM)$0.286768-0.05%
  • hyperliquidHyperliquid(HYPE)$26.07-0.97%
  • shiba-inuShiba Inu(SHIB)$0.0000140.05%
  • unus-sed-leoUNUS SED LEO(LEO)$8.950.54%
  • hedera-hashgraphHedera(HBAR)$0.1916370.69%
  • bitcoin-cashBitcoin Cash(BCH)$394.721.04%
  • the-open-networkToncoin(TON)$3.072.05%
  • litecoinLitecoin(LTC)$96.17-1.62%
  • polkadotPolkadot(DOT)$4.62-0.79%
  • moneroMonero(XMR)$336.851.10%
  • bitget-tokenBitget Token(BGB)$4.961.18%
  • daiDai(DAI)$1.000.01%
  • pepePepe(PEPE)$0.000012-0.27%
  • ethena-usdeEthena USDe(USDE)$1.00-0.02%
  • piPi(PI)$0.69-3.25%
  • bittensorBittensor(TAO)$420.561.41%
  • uniswapUniswap(UNI)$5.74-2.21%
  • aaveAave(AAVE)$221.46-1.03%
  • nearNEAR Protocol(NEAR)$2.69-1.09%
  • aptosAptos(APT)$5.06-1.42%
  • okbOKB(OKB)$53.250.16%
  • ondo-financeOndo(ONDO)$0.921.38%
  • kaspaKaspa(KAS)$0.108990-4.18%
  • internet-computerInternet Computer(ICP)$5.160.42%
  • ethereum-classicEthereum Classic(ETC)$18.09-0.47%
  • gatechain-tokenGateToken(GT)$21.630.04%
  • crypto-com-chainCronos(CRO)$0.0977970.24%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.683.32%
  • mantleMantle(MNT)$0.73-0.99%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2326192.29%
  • vechainVeChain(VET)$0.027774-0.05%
  • render-tokenRender(RENDER)$4.542.11%
  • usd1World Liberty Financial USD(USD1)$1.000.07%
  • ethenaEthena(ENA)$0.351481-6.57%
  • filecoinFilecoin(FIL)$2.79-0.02%
  • algorandAlgorand(ALGO)$0.2159850.02%
  • cosmosCosmos(ATOM)$4.730.91%