Tether’s USDT market cap dips below $70B for an 8-month low By Cointelegraph


Tether’s USDT market cap dips below $70B for an 8-month low

(USDT), the biggest stablecoin and the third-largest digital currency by market capitalization continues losing its market value amid the current market downturn.

On Thursday, USDT’s market cap dropped below $70 billion for the first time since October 2021. The drop followed a cascade of repeated declines shortly after the USDT market value reached its all-time high above $80 billion in May.

USDT 90-day market capitalization chart. Source: CoinGecko
USDC 90-day market capitalization chart. Source: CoinGecko