Tether (USDT) Price Shadowed by Record $6.6B Supply Drop, Twice the FTX Decline

TLDR Tether (USDT) market cap fell $6.6 billion in the 60 days ending November 7, according to CryptoQuant. This is the largest drop since CryptoQuant began tracking the metric in 2022, more than double the $3.2 billion FTX-era decline. Total stablecoin value now stands at about $290 billion. Bitcoin (BTC) demand fell by roughly 284,000 [...]

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