USDT Supply Plunges $4B as Crypto Trading Volumes Slow

Tether's USDT supply has seen a significant decline of around $4 billion over the past 60 days, according to CryptoQuant data.

This drop is one of the steepest in recent years and suggests that investors may be stepping back from crypto or leaving the market altogether.

The fall in USDT supply could mean that investors are converting their stablecoins back into fiat currency, rather than shifting them into other assets.

Analyst Stacy Muur noted that lower yields for stablecoins may also be playing a role, making holding onto them less appealing compared to other options.