As of June 24, Tether’s month-over-month supply has risen by less than 1.5%, down from over 5% in April and May.
June has seen a sharp drop in the supply growth of Tether (USDT) stablecoin, reflecting a reduction in liquidity in crypto markets.
A report by crypto custodian Copper shows the stablecoin month-on-month supply grew less than 1.5% as of June 24, a considerable drop from over 5% seen in April and May. According to Copper’s head of research, Fadi Aboualfa:
Tether’s trading volume plummeted from its all-time highs on March 11, when USDT trading activity peaked at $767.22 billion, to $53.55 billion on June 24. With a market cap of $113 billion, slower growth in USDT’s supply suggests that less money is flowing into the cryptocurrency markets.
