USDT capitalization decreased sharply after the MiCA law took effect in the EU

Causes and effects of USDT capitalization reduction The capitalization of stablecoin USDT has plummeted, with more than $3 billion evaporated in just one week, from a high of $140.72 billion to $137.24 billion. This comes shortly after the Markets in Crypto-Assets (MiCA) law in the European Union (EU) took effect on December 30, 2024, causing concerns about the possibility of USDT being delisted on many exchanges. European trading.