Key points:Tether’s 60-day rolling market-cap contraction stays near $4 billion in one of its heaviest drawdowns. CryptoQuant data puts the 30-day simple moving average (SMA) of 60-day USDT market-cap change at minus $4.88 billion as of Aug. 10. USDT 60-day market-cap change vs. BTC/USD. Expanded USDT 60-day market-cap change vs. BTC/USD. Source: CryptoQuantThe steepest 60-day contraction period for USDT market cap completed on July 13, when it reached minus $5.72 billion.