Just noticed Tether's market cap is looking pretty tight lately - sitting around $184B and potentially heading for a second straight monthly decline. It's like watching an hourglass contraction in real time, where the flow is getting narrower at the middle.

Not sure if this is just normal stablecoin volatility or if there's something deeper going on with demand. The market seems to be squeezing these days. Worth keeping an eye on how this plays out over the next few weeks - could signal some interesting shifts in how people are positioning their assets.