Cointime

Cointime

Download App
iOS & Android
Home / Point

Trading with Tether's USDT Stablecoin Falls to Multi-Year Lows, Making Token's Rise in Market Cap "Questionable"

  • Wechat scan to share

According to a report by crypto market research firm Kaiko, trading with Tether's USDT stablecoin has fallen to multi-year lows, despite its recent rise to near all-time highs in market capitalization.

This has raised questions about the token's growth, as stablecoins are primarily used for trading. While USDT's supply has increased to $83 billion, its use has fallen, which seems unusual.

The decline in trading volumes may be due to lackluster crypto trading during a bear market and Binance reintroducing trading fees for USDT asset pairs. However, USDT's market capitalization has not declined in tandem with trading volumes, which is unusual.

One possible explanation for this trend-defying growth is the rotation to off-shore exchanges from regulated ones as U.S. regulators are increasingly separating crypto from the traditional financial system. Another explanation may involve the Tron blockchain and its lower fees compared to Ethereum.

USDT Tether
Comments

All Comments

Recommended for you

  • Tesla fell 8.9%, the biggest drop since June 5

     Tesla (TSLA.O) fell by 8.9%, marking its biggest drop since June 5th.

  • Market analysis: ECB not worried about euro appreciation

     market analyst William Horobin: When asked about the level of the euro exchange rate, Lagarde stated that the European Central Bank does not target the exchange rate, but does take it into consideration when forecasting inflation. She did not further elaborate on this, indicating that the European Central Bank is currently not concerned about the appreciation of the euro.

  • ECB President Lagarde: Focus on the path of trade negotiations

    European Central Bank President Lagarde: Focus on the path of trade negotiations, the benchmark scenario in June remains unchanged.

  • Musk: Vine will be revived in the form of artificial intelligence

     Musk posted on social media, saying that we will revive Vine in the form of artificial intelligence.

  • Analysis: The unusual dollar trend may be another reason why Powell is cautious about rate cuts

    according to foreign media analysis, under the influence of tariff policies, Federal Reserve Chairman Powell insists on waiting for more evidence before cutting interest rates to show that inflation is not soaring. In addition, another reason Powell needs to be cautious is the extremely unusual trend of the US dollar. Before the announcement of the tariff policy, the market generally expected tariffs to strengthen the US dollar. However, the actual situation is that the US dollar is depreciating. Since "Liberation Day" on April 2, the US dollar index has fallen by 6.8%, and has fallen by about 10.4% year-to-date in 2025, the worst performance in at least 25 years from the beginning of the year. The persistent weakness of the US dollar is more likely to have a significant impact on the economy (including consumer prices).

  • The transaction volume of 6 Hong Kong virtual asset ETFs today was HK$22.4812 million

    the data of the Hong Kong stock market shows that as of the close, the turnover of 6 Hong Kong virtual asset ETFs today was 22.4812 million Hong Kong dollars, including: Huaxia Bitcoin ETF (3042.HK) with a turnover of 5.5 million Hong Kong dollars, Huaxia Ethereum ETF (3046.HK) with a turnover of 9.89 million Hong Kong dollars, Jiashi Bitcoin ETF (3439.HK) with a turnover of 0.3612 million Hong Kong dollars, Jiashi Ethereum ETF (3179.HK) with a turnover of 2.02 million Hong Kong dollars, Bosera HashKey Bitcoin ETF (3008.HK) with a turnover of 1.68 million Hong Kong dollars, and Bosera HashKey Ethereum ETF (3009.HK) with a turnover of 3.03 million Hong Kong dollars.

  • US Commerce Secretary: Trump wants EU to fully open its market

     Secretary of Commerce Lutnick said Trump hopes the EU will fully open its market.

  • US and Japan reach trade agreement; Japanese stocks close up 3.5%

    the Nikkei 225 index closed up 1396.40 points on July 23 (Wednesday), an increase of 3.51%, at 41171.32 points. 

  • Overview of important developments at noon on July 23

    7:00-12:00 Keywords: FTX, Bitwise, Japan, PoS network

  • FTX Hearing Minutes: Allowing Creditors in Restricted Jurisdictions to Transfer Claims to Non-Restricted Jurisdictions

     the account FTX Historian, which tracks the bankruptcy and compensation situation of FTX, summarized the minutes of last night's FTX hearing. The core content of the hearing is: For "restricted jurisdictions" (such as China), the funds of creditors will not be immediately confiscated as proposed in FTX's original recovery plan, but creditors will be allowed to transfer to non-restricted jurisdictions. FTX Historian also added that for affected creditors, such as users who have completed KYC in China but now reside in other jurisdictions like Singapore, this may be a path to claim, although it may require further information updates and more time costs.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company
Cointime

Hot Coins

Trending