$4 Billion Dumps USDT Amid Crypto Market Slowdown
The crypto market is experiencing weak liquidity and trading activity, leading to a slower pace of transactions. According to CryptoQuant data, the USDT supply has seen a significant decline in its 60-day market cap change, falling by around $4 billion. This drop represents one of the worst contractions in recent years.
The analyst Stacy Muur believes that this decline could indicate investors are leaving the crypto market altogether, converting their stablecoins back into fiat. Changes in stablecoin yields may also be making these assets less attractive to investors.
Further evidence of decreased activity comes from futures trading numbers. Binance's monthly Futures volume dropped from $2.55 trillion in July 2025 to $1.40 trillion in July 2026, while OKX saw its figures fall to about $447 billion from more than $1 trillion at its peak.