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RE: Tether market cap goes below $2 billion for first time since February
The other question is where has all that market cap gone to as the other stablecoins like TUSD, DAI and GUSD have not seen proportional increases. Other than the bitcoin soike that weekend, we have not seen where that $700m has gone. It is hard to consider that they have left the market without impacting prices. I guess we will find out soon enough!
I think most of it is just sitting on the books of tether and bitfinex, since they likely are the ones doing most of the buying back of tether.