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Ever since the March banking crisis, crypto trade volume and prices have been in the doldrums, with no strong movements in either direction. Over the weekend, daily volume dropped to multi-year lows.
Yet, amid the lull, Tether’s market cap is quickly approaching a new all time high, with the total supply currently at $82.9 billion. Today, Tether’s primary use case is for trading on centralized exchanges, with more than 50% of all trades executed using USDT. On DEXs, USDC remains the dominant stablecoin, but USDT still possesses a healthy market share.
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