The post Tether’s USDT supply contracts on Ethereum and TRON appeared on BitcoinEthereumNews.com.
Tether’s USDT supply is contracting, after a $2.5B burn on the Ethereum network. The stablecoin just saw its biggest burn since February, potentially signaling liquidity outflows. Tether’s treasury burned $2.5B worth of USDT tokens on July 7, the largest supply contraction since February. The Tether treasury destroyed $3.5B of tokens on February 10, as a response to general trading contraction and removing USDT from legacy networks. As a result, Tether retains a $189.6B supply of USDT, mostly using Ethereum and TRON for transfers. USDT is closely watched for the effect of Euro Area regulations, and as a general signal for the health of the crypto ecosystem. The supply burn also traces a larger trend in stablecoin liquidity. Active addresses declined by 36.2% in the past 30 days, according to Artemis data. Average daily stablecoin volume is down by 47.5%. USDT and its closest rival, Cir
The post Tether Burns 2.5 Billion USDT on Ethereum, Largest Supply Cut Since February appeared on BitcoinEthereumNews.com.
USDT News Tether removed 2.5 billion USDT from circulation on the Ethereum network on 7 July, on-chain data shows, the largest single-day burn of the dollar-pegged stablecoin since February. The move cut Tether’s total USDT supply to roughly 189.6 billion, most of it concentrated across Ethereum and TRON. Stablecoin issuers routinely destroy tokens when redeeming them for fiat, so a burn of this size is not, on its own, a directional market signal. Still, the scale stood out: it marked the sharpest contraction in USDT supply in nearly five months and immediately drew attention from traders tracking exchange liquidity and cross-chain flows. Unlike algorithmic stablecoins, USDT is backed by reserves, so burns reflect redemption activity. Separately, a leadership-linked ownership change surfaced at the company. Richard Heathcote, who stepped down as Tether’s chief inv
Bitcoin price slides to $62,870 as US-Iran military strikes crush risk appetite, thin ETF inflows and stablecoin contraction deepen the selloff pressure.
The post Strikes Across Hormuz Push BTC to $62,000 With $60K Floor at Risk appeared first on 99Bitcoins.
The post Cardano Founder Hoskinson Claims Ethereum Is Secretly Copying Its Biggest Innovation appeared on BitcoinEthereumNews.com.
Cardano (ADA) founder Charles Hoskinson has accused Ethereum of copying Cardano’s Extended Unspent Transaction Output (EUTXO) model while treating any mention of the project as taboo. A new Ethereum research proposal triggered the outburst. Ethereum Foundation researcher Toni Wahrstätter published the design this week. It treats payments as one-shot objects, meaning temporary entries rather than permanent state records. Native UTXO Proposal Targets Ethereum State Growth On Ethereum, the first payment to any address writes a permanent state entry. Wahrstätter argues that most simple payments never need one. Instead, his proposal proves a payment’s existence from history and keeps only a single spent marker in state. Bitcoin (BTC) pioneered these one-shot objects. Each payment exists once, gets spent once, and then disappears from the ledger’s active memory.
The post Secret Network Arbitrum Move Driven by AI Security Risks appeared on BitcoinEthereumNews.com.
A privacy-focused blockchain abandoning the network it was built on is not something that happens quietly. Secret Network, which has been running privacy-preserving smart contracts on Cosmos since 2020, is now proposing a full migration to Ethereum layer-2 Arbitrum — and the driving force behind the Secret Network Arbitrum move is not just declining liquidity. It is the rising capability of artificial intelligence to crack old, poorly maintained code. Key takeaways Secret Network is proposing to leave Cosmos for Ethereum layer-2 Arbitrum, citing AI-assisted exploit risks and ecosystem liquidity decline. A $4.7 million Axelar-Secret IBC bridge exploit in June underscored the vulnerability of aging infrastructure, though the SCRT token itself was not affected. Cosmos ecosystem TVL has dropped 88% since its 2021 peak to roughly $2 billion; Arbitrum leads all layer-2 networks with $17.4 b
The post ‘Literally a Crime’: Cardano Creator Reacts to Ethereum’s Next Big Innovation appeared on BitcoinEthereumNews.com.
Ethereum Foundation developers are looking for a way to save the network from the critical growth of its database and have turned to the architecture of its main competitor. Researcher Toni Wahrstätter proposed introducing elements of the UTXO model into Ethereum, a model that has been successfully used by Cardano for years. Amid this, Cardano founder Charles Hoskinson — a former Ethereum co-founder who left the project in 2014 after a public split over deep disagreements with Vitalik Buterin about the network’s commercial direction — accused his former colleagues of hypocrisy. You Might Also Like Ripple-Operated Rail Dropped by Major Software Company XRP, Shiba Inu (SHIB), Solana (SOL) and Bitcoin (BTC) Price Analysis for June 8: Momentum Is Not Fueled Yet Ethereum’s problem lies in its account-based model, as the network is forced to permanently store active dat
The post Base Network’s Pioneering Move to Simplify Digital Tokenization appeared on BitcoinEthereumNews.com.
Coinbase-supported Base, an innovative Ethereum layer-2 network, is set to revolutionize the token issuance landscape with the launch of its B20 standard on the mainnet. Scheduled for activation at 18:00 UTC, this new standard offers a streamlined framework for creating stablecoins, tokenized real-world assets, and other fungible tokens, without the need for customized ERC20 contracts. […] Continue Reading:Base Network’s Pioneering Move to Simplify Digital Tokenization Source: https://en.bitcoinhaber.net/base-networks-pioneering-move-to-simplify-digital-tokenization
The post Ethereum price eyes drop to $1,650 as it forms bearish rounding top appeared on BitcoinEthereumNews.com.
Ethereum has weakened for a second straight session as a bearish rounding-top pattern and renewed selling pressure threaten a move toward $1,650. Summary Ethereum fell below $1,750 after failing to break above key resistance near the 50-day EMA around $1,800. A bearish rounding-top pattern, weakening momentum indicators, and liquidation clusters point to $1,650 as the next support. Despite four straight days of spot ETF inflows, analysts say the recent rally has been driven mainly by spot demand rather than leverage. According to data from crypto.news, Ethereum (ETH) was trading near $1,737 at press time, down nearly 2% over the past 24 hours after a wallet linked to a large holder transferred roughly $26.9 million worth of Ether to a centralized exchange. The move triggered fresh profit-taking after Ethereum’s recent recovery stalled just below a major technical resistance
Ethereum has weakened for a second straight session as a bearish rounding-top pattern and renewed selling pressure threaten a move toward $1,650. According to data from crypto.news, Ethereum (ETH) was trading near $1,737 at press time, down nearly 2% over…
