Tether's USDT market cap dips below $70B for an 8-month low

Amid Tether losing market share over the past few weeks, the Circle-backed USDC Stablecoin has been growing notably, with the market value surging to $55 billion.

Amid Tether losing market share over the past few weeks, the Circle-backed USDC Stablecoin has been growing notably, with the market value surging to $55 billion.

Tether(USDT) is the giant Stablecoin and the third-largest digital currency by market capitalization continues to lose its market value.

USDT's market cap decreased by $70 billion for the first time since October 2021. The drop followed a cascade of repeated declines shortly after the USDT market value reached its all-time high above $80 billion in May.

According to CoinGecko Tether USDT's market capitalization stands at $69.3 billion up approx $300 million from the multi-month low.

Read full news at: http://cryptounity.news/tethers-usdt-market-cap-dips-below-70b-for-an-8-month-low