Tether market cap hits all time high

Quick Take

• Tether’s market cap has just hit an all-time high of $83.2 billion.
• However, according to Kaiko’s research, Tether’s trade volume is at multi-year lows; this includes both CEXs and DEXs, which had a daily USDT volume of around $7 billion in May.
• Currently, the total market cap of the top 5 stablecoins is $124.2 billion, broken down as follows:

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