Tether Drops USDT for Five Chains to Boost Scalability
Tether don dey reduce how e dey support USDT for low-volume chain make e fit make liquidity easy and make scalability beta. For 2023, dem stop to mint new coins for Bitcoin Cash (BCH) and Algorand (ALGO) and from July 31, 2024, dem stop on-chain redemption for those networks. Now, Tether go stop to support USDT for five old blockchains—ALGO, EOS, BCH, Kusama (KSM), and Omni (OMNI)—starting from September 1, 2025. After that date, people no go fit redeem and any USDT wey remain for these chains go freeze. Traders suppose move their USDT go high-utility networks like Ethereum (ETH), Tron (TRX), Solana (SOL), BNB Chain (BNB) or layer-2 solutions to keep liquidity steady. With almost $160 billion for circulation, Tether strategic move dey reduce cross-chain fragmentation, reduce transaction cost, make settlement quick and make sure say institutional redemptions dey efficient amid increasing regulatory check.
Neutral
Dis consolidation of USDT support from old blockchains to high-volume networks no dey affect USDT price stability positively or negatively. For short term, traders fit face small liquidity wahala and small increase for spreads on the chains wey dem affect, wey fit make dem move their tokens. For long term, putting liquidity for Ethereum, Tron, Solana, BNB Chain and layer-2 solutions go make transactions more efficient, reduce fragmentation and make more institutions start to use am well, supporting USDT as stablecoin without shaking the peg. Historical changes for redemption networks never do much wahala for USDT $1 price, showing say market response na neutral.