Tether has announced it will cease USDT support on five blockchains—Algorand, EOS (Vaulta), Bitcoin Cash, Kusama, and Omni Layer Protocol—by September 1, freezing remaining assets. The decision aligns with declining trading volumes on these ‘legacy’ chains and aims to prioritize scalable, developer-friendly networks. Tether CEO Paolo Ardoino emphasized the shift toward layer-2 solutions and growing ecosystems. USDT holders on affected chains must redeem or migrate tokens. The move coincides with regulatory discussions, including the U.S. GENIUS Act, highlighting stablecoins’ role in dollar dominance. USDT remains the top stablecoin with a $160B market cap.
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Tether Ends USDT Support on 5 Legacy Blockchains
Tether has announced it will cease USDT redemptions on five legacy blockchains—Omni Layer, Bitcoin Cash SLP, Kusama, EOS (now Vaulta), and Algorand—starting September 1. The decision, part of a long-term strategy shift, aims to prioritize blockchains with higher scalability, developer activity, and community engagement. Tether had already stopped issuing USDT on Omni Layer, Kusama, and Bitcoin Cash SLP in August 2023, followed by EOS and Algorand in June 2024. CEO Paolo Ardoino emphasized the need to focus on more efficient platforms, signaling a broader industry trend toward consolidation and optimization in stablecoin infrastructure.
read moreSnoop Dogg Sells $12M in NFTs on Telegram via TON
Snoop Dogg’s latest NFT drop on Telegram, powered by the TON blockchain, sold 996,000 units in just 30 minutes, generating $12 million. The collection, featuring his signature style—vintage cars, marijuana, and digital dogs—also introduced social utility by allowing NFTs to be displayed on profiles or exchanged for Stars, Telegram’s in-app currency. Despite a 61% decline in NFT trading volume in early 2025, Snoop’s success highlights a potential pivot from speculative trading to real-world utility. Other projects, like TravelX’s NFTickets and PSG’s exclusive Silver Card, further underscore this trend. Meanwhile, Shaquille O’Neal faces legal scrutiny over his NFT project, Astrals, adding complexity to the evolving NFT landscape.
read moreSolana’s Tokenized Stock Market Surges to $48.5M in Two Weeks
Solana’s tokenized stock market capitalization surged from $15.28 million to $48.53 million between June 20 and July 4, marking a threefold increase in just two weeks. Backed Finance, a Switzerland-registered issuer, is responsible for all 61 Solana-based tokenized stocks, which trade under the SPL standard and are backed 1:1 by real equities. These xStocks products are available on exchanges like Kraken and Bybit, with settlement facilitated through regulated custodians. Solana now holds 11.4% of the total tokenized stock market, trailing Algorand ($294.71M) and XRP Ledger ($55.35M). Backed plans to expand its Solana offerings in H2 2023, potentially pushing the network past XRP Ledger in total stock value.
read moreXRP Ledger’s 34% RWA Growth Eyes Major Boost from Mercado Bitcoin
The XRP Ledger has posted a 34.6% increase in tokenized real-world assets (RWA), reaching $157.4 million, according to rwa.xyz. Only Aptos outpaced this growth with a 57% surge. Ethereum remains the leader by total value at $7.55 billion. XRP Ledger ranks 10th by total RWA value but has just six projects—a number set to rise following a partnership with Mercado Bitcoin, which aims to tokenize $200 million. US Treasury debt dominates XRP Ledger’s RWA at $90.1 million, followed by public equity receipts. Archax and Ondo are key players in the ledger’s tokenization stack. The Mercado Bitcoin initiative could significantly boost XRP Ledger’s market share, currently at 1.2%.
read moreAltcoins Drop as Trump Tariff Threats Spark Trade Tensions
Altcoins like DOGE, XRP, and SOL posted significant losses following President Trump’s announcement of impending tariff letters to trading partners. Analysts warn this could escalate global trade tensions, impacting economic outlooks. The ‘Big, Beautiful Bill’ also passed Congress, which Tesla CEO Elon Musk vehemently opposed, claiming it harms electric vehicle mandates. Bitcoin remained stable, but altcoins suffered, with Pepe, Jupiter, and Worldcoin among the hardest hit. Arthur Hayes of BitMEX suggested the bill might push Bitcoin to $90,000, though liquidity concerns persist.
read moreCoinbase Adds Wormhole (W) Support, Sparks Brief Rally
Coinbase has announced the addition of Wormhole (W), a cross-chain interoperability project, to its supported assets, enabling trading, storage, and conversions. The news briefly propelled W’s price from $0.61 to $0.81 before a slight retracement. Wormhole facilitates communication between major blockchains like Ethereum, BNB Chain, and Avalanche, allowing seamless token and NFT transfers across networks. The integration highlights Coinbase’s continued expansion into multi-chain ecosystems, though W’s price volatility post-listing underscores the speculative nature of such listings. The project’s compatibility with leading Layer-2 solutions like Arbitrum and Polygon further cements its utility in decentralized finance (DeFi).
read moreBitcoin Recovers After Plunge, Altcoins Struggle Amid Volatility
The cryptocurrency market experienced sharp volatility over the past 24 hours, with Bitcoin initially plunging to $105,145 before rebounding to $107,720—up 1% on the day. Meanwhile, most altcoins struggled, with losses exceeding 3% in some cases, highlighting Bitcoin’s dominance. The market turbulence coincided with political developments in the U.S., where Donald Trump’s proposed tax bill could ease retail investor burdens, potentially boosting crypto investments. Liquidations spiked by 30%, nearing $260 million, as derivatives traders faced heightened risks. Notable movers included PENGU (up 6.3%) and ALGO (down 6.5%), reflecting the mixed performance across altcoins.
read moreAlgorand’s Wormhole NTT Boosts Multichain DeFi Access
Algorand’s integration with Wormhole NTT allows developers to issue multichain tokens directly from its blockchain, bypassing wrapped assets and improving DeFi accessibility. The announcement triggered a 4% ALGO price spike and doubled trading volumes to $107 million. Folks Finance is an early adopter, leveraging NTT for its FOLKS token, while Algorand’s network activity surges with 1M daily transactions and 108K active addresses. Beyond DeFi, Algorand is making strides in real-world applications, including NFT ticketing (17M+ minted by TravelX) and biometric payments for 6M+ unbanked Africans via Paycode. The network’s scalability was demonstrated by processing 34K transactions in one block with 100% success rate.
read moreARB Token Surges 20% Amid Robinhood Partnership Rumors
ARB, the native token of Arbitrum, spiked 20% in 24 hours, reaching $0.38 and flipping several top altcoins in market cap. The rally is attributed to speculation about Robinhood collaborating with Arbitrum to enable European investors to trade US stocks, as well as Binance adding ARB/USDC to its Trading Bots. Despite bullish sentiment, the RSI exceeding 80 suggests a potential short-term correction. Analysts remain divided, with some predicting further gains to $0.50, while others caution against overbought conditions.
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