Why Did Tether’s Value Plummet This Week? 📉

Tether (USDT), the dominant stablecoin that's typically pegged to the US dollar, has seen its market valuation decrease notably. In the last week, Tether's market cap dropped by more than 1%, settling to approximately $137.24 billion. This decline is significant as it's the most substantial reduction in the value of Tether in the past two years. The reasons behind this dip in value are yet to be fully understood, sparking discussions and concerns in the stablecoin segment of the cryptocurrency market.