Tether Stablecoin Tether has abandoned its plan to freeze the USDT smart contracts on five chains, saying that the distinctive symbols will remain convertible but not released or replaced.
The revised plan affects users on the omni, Bitcoin Cash Slp, Kusama, EOS and Al -Khawarz. He said Friday after receiving notes from members of these ecosystems. “By following the suspended Blockchains, Tether has reviewed this approach and will not freeze smart contracts on these networks.”
Although users will remain able to transfer the distinctive symbols on this blockchains, Tether stops the direct version and recovery on these chains. “This means that the distinctive symbols will not be officially supported as other codes in the rope.” The initial plan was to end the support on September 1.
The decision is in line with the broader Tether strategy to keep focusing on expanding support for ecosystems for encryption with a strong developed and expanding activity and the user’s request – without completely giving up the chains that have long supported them. Only a small number of Layer-1 groups based on smart contracts has succeeded in achieving the user’s dependence on a wide range and providing practical use cases, including TON and ETHEREUM-The chains provide the rope more support.
Tron and Ethereum leads USDT
TON and Ethereum have $ 80.9 billion and $ 72.4 billion from the United States Data He appears.
Solana, along with Ethereum Layer-2 definition and base, are among other ecosystems coded with Heavy stablecoin activity, Although it is used primarily from Circle instead of USDT.
A multi -Obi layer to be more affected
Review USDT assets via affected Blockchains He appears This omni layer will be more affected because it carries a net trading of $ 82.9 million, while other networks have a smaller post: have EOS $ 4.2 million, while Bitcoin Cash SLP, Kourazaf, and Kusama have less than a million dollars from Usdt.
The sunset was made in Tether to support this Blockchains for two years. In August 2023, the company announced that it was no longer To be released on the omni layerAnd Kusama and Bitcoin Cash Slp. In June 2024, tether I stopped the move on EOS and the Kharique.
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The total maximum market for Stablecoins is currently at $ 285.9 billion, led by USDT and USDC for $ 167.4 billion and 71.5 billion dollars, respectively, as CONINECKO data appears.
Stablecoin market is scheduled to be strengthened in the coming years
Last month, US President Donald Trump The genius law was signed in the law, What many analysts say will enhance the dominance of the US dollar by promoting the stability related to the dollar, competing with other currencies, and strengthening the role of the dollar as the world’s leading reserve currency.
The US Treasury expects that the Stablecoin market will be It grows to $ 2 trillion By 2028.
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