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Tether (USDT) Trading Volume Sinks $4.5 Trillion in Quarterly Low

Due to unfavorable crypto market belief, Tether(USDT) trading volume in the very first quarter of 2022 was lower than Tether trading volume in the exact same duration of 2021.

Despite the bearish patterns of the marketplace which has actually seen countless financiers rely on stablecoins, financier interest in USDT stays low.

According to Be[In] Crypto research study, Tether trading volume throughout the very first quarter of the year remained in the area of $5.3 trillion. This was a 46% decline in the trading volume taped in between January and March of 2021 of around $9.9 trillion.

What caused the decrease in Tether trading volume?

A fall in overall deal counts in the very first quarter of 2022 can be credited to as the main factor for the sinking Tether trading volumes.

In the very first quarter of 2022, the overall deal count for Tether was 26,454

Source: Messari

This was a 99% drop in total USDT deal count in the very first quarter of 2021, resting at 52,459,262

Source: Messari

In January 2021, Tether deal count was 15,211,685– compared to January 2022, where its deal count was 17,385

In February 2021, Tether deal count was 17,214,849– compared to February 2022, where its deal count was 4,266

In March 2021, Tether deal count was 20,032,728– compared to March 2022, where its deal count was 4,803

Looking to USDT trading volume in Q1 2021 and Q1 2022

Further examining the effect of decreasing Tether deal relies on Tether trading volume, let us think about the USDT trading volume in the Q1 2021 and Q12022

In January 2021, USDT trading volume was around $3.4 trillion with a single-day high in the area of $1836 billion– compared to January 2022 where its trading volume was roughly $1.8 trillion, and had a single-day high of $904 billion.

In February 2021, USDT trading volume remained in the area of $3.7 trillion with a single-day high of $1959 billion– compared to February 2022, where its trading volume was around $1.5 trillion, and had a single-day high of $1079 billion.

In March 2021, USDT trading volume was around $2.7 trillion with a single-day high of $1112 billion– compared to March 2022, where its trading volume remained in the area of $1.9 trillion and had a single-day high of $904 billion.

Price response

USDT opened on Jan. 1, 2022, with a trading rate of $1, reaching a quarterly low of $0.9998, and closing Q1 2021 at $1.

Overall, there was no modification in between USDT’s opening and closing cost in Q1 2022.

Source: TradingView

Looking to the listed below chart, USDT opened on Jan. 1, 2021, with a trading cost of $1, reaching a quarterly low of $0.9974, and closed the very first quarter of 2021 at $1.

Overall, there was no modification in between USDT’s opening and closing rate in Q1 2021.

Source: TradingView

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