Tether Dominance Reaches Two-Year High Amid Investor Caution

Tether's dominance in the cryptocurrency market has climbed to a two-year peak of 7.4%, reflecting growing investor caution. According to NS3.AI, this rise comes as confidence in the crypto market remains fragile. The total market capitalization of cryptocurrencies is hovering around $2.5 trillion, marking a fifth consecutive month of decline. This downturn is also characterized by a decrease in stablecoin inflows to exchanges. Analysts caution that the current market conditions are reminiscent of the early stages of the 2022 bear market, suggesting that the market bottom may not yet have been reached.