According to cryptocurrency media outlet The Block, USDT's market cap has plunged by $1.8 billion since the EU's MiCA regulation was enforced on December 30th. This marks the most significant weekly fluctuation since FTX's collapse. Before MiCA's implementation, USDT's market cap stood at $138.8 billion, but it has since dropped by 1.2% to $137 billion. Over the past two weeks, the decline has reached 2.7%. However, it's important to note that MiCA's enforcement may not be the sole reason for USDT's market cap reduction. Other factors, such as market sentiment and global economic conditions, could also be contributing to the decline.

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