USDT trading volume drops to multi-year low, market cap growth ‘doubtful’: KAICO

According to Clara Madeli, Director of Research at Kyoko, a corresponding decline in market capitalization would be anticipated as trading volumes fall, and considering that trading is the major use case for stablecoins. The market caps of USDC and BUSD have shrunk in tandem with the trading volume of the stablecoin. “But we are not seeing this trend for Tether,” Medley said.