Despite concerns surrounding the European Union's Markets in Crypto-Assets (MiCA) implementation, the market capitalization and peg of Tether (USDT) have remained remarkably stable. On-chain analytics firm Glassnode reported via Twitter that "Many expected chaos for $USDT as EU #MiCA came into force and $USDT was effectively banned in the EU. But its market cap and peg have held up remarkably well." Despite the delisting of USDT from several exchanges following MiCA's enforcement on December 31st, the stablecoin's market cap and peg have remained resilient, indicating its continued dominance in the cryptocurrency market.

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