Tether Market Cap Drops $242.06M to $187.95B on June 1

GateNews
BTC-0.33%
According to CoinGecko, Tether's (USDT) market cap fell by $242.06 million to $187.95 billion on June 1. Market analysts attribute the decline to large-scale redemptions or profit-taking activities. The stablecoin's supply contraction comes as Bitcoin and major altcoins face increased volatility, prompting some institutional and large investors to reduce risk exposure in digital assets.
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