Tether Dominance Hits April Highs as Bitcoin Weakens
Tether (USDT) has surged to its highest market dominance since April, highlighting rising caution among cryptocurrency investors.
The world’s largest dollar-pegged stablecoin currently trades with a market capitalization of $184 billion. Beyond its use in trading, lending, and borrowing, USDT acts as a dollar-equivalent safe haven, providing a preferred store of value during periods of market turbulence.
Bitcoin has lost 11% this month, dropping to $97,630, prompting investors to shift funds into Tether and other stablecoins. Historically, bear markets coincide with spikes in USDT dominance, as traders prioritize capital preservation. Technical indicators, such as the MACD histogram, show renewed bullish momentum in USDT dominance, signaling heightened risk aversion.
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