Publishing research reports on the cryptocurrency market kaiko, analyzed Tether with the new data it published.
Analysts, the biggest stablecoin (USDT) issuer’s trading volume on central exchanges and DEXs – market cap data.
Kaiko experts Tether’s found that the market volume fell to the lowest level in the last 4 years. Although this situation is easily explained by the stagnation in the crypto market, the historical peak of the market value at the same time confuses investors.
USDT’s trading volume was around $350 billion in the first month of 2023, which has now dropped by almost two-thirds. Its market cap rose from $60 billion in January to an all-time high of $83 billion as of May.
Why Is Market Value Increasing While Trading Volume Is Declining?
Speaking to the crypto press, Kaiko researcher Clara Medalie mentioned that this situation only happens in Tether. BUSD And USDC Along with the trading volume in stablecoins, the market value also shows a downward trend.
Medalie attributed the increase in market value to the increasing regulatory pressure in the USA. The Kaiko expert thinks that investors who use dollars directly or use other stablecoins in crypto trading are now turning to Tether.
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