Add as a preferred source on GoogleGlobal Stablecoin Market Value Stands at About $290 Billion
Tether USDt’s market capitalization fell $6.6 billion over 60 days, while Bitcoin demand declined by roughly 284,000 BTC over a 30-day period.
The total value of stablecoins stood at about $290 billion on Nov. 12. Traders use the dollar-denominated tokens to buy crypto assets or open positions.
Tether USDt (USDT) market capitalization fell $6.6 billion in the 60 days ending Nov. 7. The decline was more than twice the $3.2 billion drop after the FTX collapse and the largest since tracking began in 2022.
Bitcoin (BTC) demand also fell by roughly 284,000 BTC over a 30-day period during the same broader stretch. The concurrent declines do not establish that one caused the other.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.