Tether Market Cap Reaches $184B Amidst Crypto Sell-Off

The cryptocurrency market experienced a recent downturn, with Bitcoin dropping over 11% to $97,000 this month. This shift has led investors to seek stability in stablecoins, particularly Tether (USDT), which recorded a significant surge in market capitalization, reaching a record high of $184 billion. This increase underscores the growing preference for these USD-backed coins as safe haven assets during volatile periods.