Tether’s Market Value Shrank by More Than $10 Billion in May

According to the snapshot data of Tether’s market value extracted by BeinCrypto, Tether’s market value at the end of May was about $72.5 billion, down 12% from the $83.16 billion market value at the beginning of the month, which means that Tether’s market value in May shrank by more than $10 billion. .

BeinCrypto analysis believes that with the strengthening of the U.S. dollar and the increased demand for government bonds and bills due to interest rate hikes, many retail and institutional investors sold digital assets around May 9, which had a huge impact on the market value of USDT.