USDT’s market cap shrank by $6.6 billion, twice the scale of the outflow after FTX.
Crypto News Flash reports that Tether’s USDT market cap fell by $6.6B, shrinking in dollar terms faster than it did after the FTX collapse. Over the same period, USDC and the broader stablecoin market also contracted, while Bitcoin spot demand indicators weakened alongside the loss of liquidity. The report also notes that Tether’s latest reserve report still shows assets exceeding liabilities.
· It was the market cap that shrank; the reserve report shows assets still exceeding liabilities. These are not measured on the same basis.
· Weaker Bitcoin spot demand coincided with the loss of liquidity; the report does not establish a causal link.
Would you look first at USDT’s market cap or the corresponding change in USDC?
$USDT $USDC $BTC
Crypto News Flash reports that Tether’s USDT market cap fell by $6.6B, shrinking in dollar terms faster than it did after the FTX collapse. Over the same period, USDC and the broader stablecoin market also contracted, while Bitcoin spot demand indicators weakened alongside the loss of liquidity. The report also notes that Tether’s latest reserve report still shows assets exceeding liabilities.
· It was the market cap that shrank; the reserve report shows assets still exceeding liabilities. These are not measured on the same basis.
· Weaker Bitcoin spot demand coincided with the loss of liquidity; the report does not establish a causal link.
Would you look first at USDT’s market cap or the corresponding change in USDC?
$USDT $USDC $BTC
