Omniscient price

blackrock just bought 108k eth in a single day, pushing total eth etf inflows to a record $383m. meanwhile tether is pulling usdt support from omni network by september - institutional money flowing into eth while infrastructure consolidates elsewhere. two very different stories playing out

Tether announced it will discontinue support for its USDT stablecoin on five “legacy” blockchains, including Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand. According to the July 11 announcement, the move will become effective Sept. 1, ending redemptions and freezing remaining tokens on those networks. The decision comes as part of what the company called an “infrastructure optimization” strategy, aiming to align with shifting community usage trends and refocus resources toward more active and scalable blockchains. The move finalizes a phased withdrawal that began over the past two years. In 2023, Tether halted minting on Bitcoin Cash, Kusama, and Omni Layer and ended minting on Algorand and EOS (recently rebranded as Vaulta) last June. Until now, however, it had continued to redeem tokens on these networks. Tether CEO Paolo Ardoino said: “As the digital asset ecosystem evolves, Tether remains committed to adapting alongside it. Sunsetting support for these legacy chains allows us to focus on platforms that offer greater scalability, developer activity, and community engagement, all key components for driving the next wave of stablecoin adoption.” Tether emphasized that the five blockchains were instrumental in its early expansion but have seen a steep decline in USDT usage and trading volume in recent years. USDT remains the largest stablecoin in crypto with a market capitalization nearing $160 billion. The company said it will prioritize emerging Layer 2 networks, such as the Lightning Network, and other high-utility chains to enhance interoperability, transaction speed, and ecosystem growth. Tether advised customers to redeem their USDT holdings on the affected blockchains or request issuance on supported networks before the September cutoff. Holders not directly served by Tether can migrate through third-party service providers. The stablecoin issuer added that it will continue exploring new integrations to broaden USDT accessibility globally and strengthen its infrastructure to meet evolving market demands. The post Tether to sunset USDT redemptions on 5 ‘legacy’ networks including Bitcoin Cash, Algorand appeared first on CryptoSlate.

Tether ends support for #USDT on 5 blockchains. From September 1, 2025, Tether will freeze tokens and disable the possibility of redeeming USDT on the following blockchains: ⊹ Algorand #ALGO. ⊹ Bitcoin Cash SLP #BCH. ⊹ Kusama #KSM. ⊹ EOS #EOS. ⊹ Omni #OMNI. Tether customers should redeem or reissue tokens on other networks, and the rest should migrate through third-party services.

Tether is phasing out legacy chains to focus on scalable, high-demand ecosystems. – Ending $USDT on 5 chains – Affected: Omni, BCH SLP, Kusama, EOS, Algorand – Final redemption deadline: Sept 1, 2025 – Focus shifts to high-utility chains – Prioritizing scalability and dev activity – Expanding to L2s like Lightning A new phase begins as Tether leaves behind old rails to scale with the future of crypto.

Tether, Inc. will end support for USDT tokens on five legacy chains. The tokens will be frozen as of September 1, as Tether focuses on its busiest networks, TRON and Ethereum.  Tether, Inc. will discontinue the issuance and redemptions of USDT on five legacy blockchains. All remaining tokens will be frozen on Omni Layer, Bitcoin […]