USDT Experiences Largest Monthly Market Cap Drop Since FTX Collapse
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USDT's supply decreased by 1.7% in February, with a market cap drop from over $187 billion to approximately $184.3 billion. Tether burned a total of 6.5 billion USDT over the past two months, indicating a potential cooling in speculative trading and increased cash-out activity among investors.
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- USDT’s supply has decreased by 1.7% over the past month, and $1.5 billion in February.
- Its market cap has dropped from over $187 billion to around $184.3 billion in one month.
- Tether burned 3.5 billion USDT in February, after also burning 3 billion last month.
USDT, the world’s biggest stablecoin, is declining faster than it has since the FTX crash in 2022. To be more precise, USDT’s circulating supply has decreased by 1.7% over the past month, and $1.5 billion in February so far. That shift points to changing money flows in crypto and could be a sign that speculative trading is cooling off.
USDT’s market cap has dropped from over $187 billion in early January to around $184.3 billion by mid-February. This is likely happening because more people are cashing out their stablecoins for regular money (increased redemption activity), which often means investors are …
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