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USDT market cap drops $6.6B in 60 days but dollar peg remains stable amid steady redemptions

Market News
10 Nov 2026, 16:34 WIB
Crypto Briefing
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Neutral
USDT market cap drops $6.6B in 60 days but dollar peg remains stable amid steady redemptions

Tether's USDT stablecoin market cap fell by about $6.6 billion over the past 60 days, reaching approximately $177 billion as of early November 2026. This decline accelerated in late October, with a record $3.1 billion weekly drop in supply during the first week of November, reflecting a broader $6.66 billion reduction in total stablecoin supply. Despite these outflows, USDT and rival USDC maintained their dollar pegs, trading near $1 without signs of panic selling, indicating controlled withdrawals rather than a crisis. Tether's Q3 2026 attestation shows a healthy reserve buffer of $7.95 billion, larger than the recent outflows, providing reassurance about liquidity and solvency going forward. Investors should watch weekly supply changes and peg stability as key indicators of market health.

Tether's USDT trades at Rp18.075 on Pluang, showing a slight 0.03% increase as of Nov 10, 2026 21:52 WIB. Despite the recent $6.6 billion drop in USDT supply over 60 days, market activity on Pluang leans 66% towards selling. The typical hold time for USDT investors on Pluang is 93 days, indicating moderate-term engagement with the asset.

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