Surprisingly, the surge in market valuation has come despite a noticeable drop in trading volumes across exchanges, seen as one of the primary use cases for stablecoins., USDT’s market cap has attained all-time highs despite logging six consecutive weeks of depleting trading volume across all categories of exchanges.
Although it was anticipated that USDT would strengthen its market share in stablecoin trading after the macroeconomic triggers in March, Binance’s promotion ofWhile historically, there existed a close link between changes in USDT’s trade volume and its market cap, the correlation has hit zero at the time of writing.