CoinVoice has recently learned that according to CoinDesk, TradingView data showed that the market value of USDT fell by nearly 1.1% to US$137.24 billion this week, the largest drop since the collapse of the FTX exchange in the second week of November 2022. In mid-December 2024, the market value of USDT reached a record high of US$140.72 billion.
The move comes after several EU-based exchanges and Coinbase decided to delist USDT due to its non-compliance with the EU Markets in Crypto-Assets (MiCA) regulation, which came into full effect on December 30. USDT is a gateway to the cryptocurrency market and is widely used by investors to fund spot cryptocurrency purchases and derivatives trading.
As a result, the delistings and the drop in market value have sparked speculation on social media about a general decline in the cryptocurrency market. However, these concerns are likely unfounded and the negative impact will be limited to the eurozone at best. [Original link]