USDT supply contraction pace surpasses levels seen during FTX collapse.

BlockBeats news, November 10 - CryptoQuant posted that the contraction rate of USDT supply has surpassed the level after the FTX collapse. Over the past 60 days, USDT's market cap has shrunk by $6.6 billion, more than double the decline in the same period in December 2022.

In this crypto market cycle, the growth of stablecoin scale has been an important source of funds driving the market up, and now this liquidity support is gradually weakening.