USDT market cap shrinks faster than during the FTX collapse, CryptoQuant says

Tether’s supply, or market capitalization, is shrinking faster than it did during the FTX collapse, according to CryptoQuant’s official X account. USDT market cap has fallen by $6.6 billion in 60 days, more than double the decline seen in December 2022. CryptoQuant added, "stablecoin growth has supported every rally in this cycle. That fuel is running out."