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USDT Depegging Incident Causes Market Impact and Increased Activity, but Stablecoin Maintains Dominance

June 17 (Cointime) - The recent depegging incident of Tether's USDT caused significant market impact and increased activity, with traders disposing of their tokens and the supply of Tether on exchanges experiencing a decline.

Despite this, USDT still maintains dominance with the largest market cap and trading volume. The market appears to be reeling from the FTX crash and regulatory actions targeting certain exchanges, adding to overall unease. The upcoming days will be crucial in shaping how Tether responds to these events and influences the dispersion of fear, uncertainty, and doubt surrounding the stablecoin.

Tether USDt Tether USDt $1.00
-0.06%
Tether USDT stablecoin
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