The quiet nature of the cryptocurrency market this year can largely be attributed to heightened risk control measures surrounding the trading of USDT (Tether). These strict regulations make it increasingly difficult for users to deposit, withdraw, buy, or sell USDT smoothly. In particular, the increased scrutiny and enforcement from various financial channels—ranging from popular payment apps like Alipay and WeChat to traditional bank card services—has added significant hurdles to transacting in virtual currencies.

On top of this, virtual currencies have become heavily intertwined with black-market and gray-market activities, making it almost impossible to separate legitimate transactions from illicit ones. This has led to more intense monitoring from both regulators and financial institutions. Any purchase or sale of USDT is likely to trigger an investigation, as authorities can't determine if it's being used for legitimate investments, illegal activities such as online gambling, or even more serious criminal enterprises. This deep-rooted suspicion and risk have placed heavy pressure on the market, effectively stifling its growth and activity.

As a result, engaging in the cryptocurrency space has become more challenging, with users facing the constant threat of scrutiny, whether they are making legitimate trades or otherwise. This overall environment has dampened market enthusiasm, contributing to the subdued activity we’ve seen this year.

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