Tether market share reaches highest level since April as risk aversion rises

Jinse Finance reported, citing CoinDesk, that Tether's market capitalization has reached $184 billion, with its market dominance recently surging to the highest level since April, reflecting a strong risk-averse sentiment in the overall cryptocurrency market. The current crypto market remains under pressure, with bitcoin having dropped 11% this month to $97,000, prompting investors to shift funds into USDT and other USD stablecoins for value preservation. Historical data shows that Tether's dominance tends to rise sharply during bear markets, as traders prefer to hold stablecoins to protect their capital. Historically, when the MACD histogram breaks above the zero axis, it usually signals the start of a bear market, accompanied by bullish momentum in USDT dominance.