Tether To Halt USDT Support On EOS and Algorand, Shifting Focus To Community-Driven Blockchain Support

Tether has announced a strategic shift to prioritize community-driven blockchain support, revealing plans to drop USDT support on EOS and Algorand.

The transition will be completed within the next 12 months and marks a major shift in Tether’s strategy.

The decision to stop issuing USDT on EOS and Algorand has sparked widespread discussion and concern within the cryptocurrency community.

Tether’s move reflects an ongoing evaluation of its technology infrastructure and community needs with an eye toward improving sustainability and innovation. The change signals Tether’s focus on optimizing resources and support toward a blockchain that more closely aligns with its strategic goals and user base.

Data Reveals Handling of Net USD Inflows from Ethereum Foundation Wallet

In other news, intotheblock data highlights a notable trend in the way the Ethereum Foundation handles net USD inflows from its wallet. Historically, the Ethereum Foundation has strategically sold large amounts of ETH during each bull run, and these sales are often timed almost perfectly with market peaks. This pattern has piqued the interest of market observers as it suggests a deliberate strategy to maximize profits during bull cycles.

However, in the current cycle, the Ethereum Foundation has yet to conduct a major sell-off. This departure from past behavior has raised questions and speculation about the Foundation’s future plans and their potential impact on the market. The lack of a major sell-off could indicate a more cautious approach, or a strategic decision to hold onto assets amid ongoing market developments.

These developments highlight the dynamic nature of the cryptocurrency market and the strategic decisions being made by key players such as Tether and the Ethereum Foundation. As Tether shifts its support to a more community-driven blockchain and the Ethereum Foundation holds its assets, the cryptocurrency community continues to keep a close eye on these influential moves and how they will impact the market as a whole.

Disclosure: This is not trading or investment advice. Always do your research before purchasing cryptocurrency or investing in any service.

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