Tether's USDT is showing its biggest monthly decline since the 2022 collapse of FTX, Cointelegraph reported on Feb. 20. Cointelegraph said supply fell sharply as whale investors and smart-money traders reduced their USDT holdings.
According to Artemis Analytics, USDT circulation has fallen by about $1.5 billion so far in February, after dropping by $1.2 billion in January. That marks the biggest decline in 3 years since a $2.0 billion drop immediately after the 2022 FTX incident. Tether has a market capitalisation of $183.0 billion as a key on-ramp to the cryptocurrency market. Its share of the overall stablecoin market stands at about 71 percent.
The overall stablecoin market has not contracted. DeFiLlama data showed total stablecoin market capitalisation rose 2.33 percent in February to $307.0 billion from $300.0 billion. USDT and USDC fell 1.7 percent and 0.9 percent, respectively, but World Liberty Financial USD1, backed by the Trump family, rose 50 percent in a month to $5.1 billion.
Chi-gyu Hwang
delight@d-today.co.kr