Spot crypto trading volumes have fallen by half since October as liquidity dried up and investor engagement weakened.

Stablecoin issuer Tether said the initiative will help millions of users from emerging markets such as Africa, Latin America and Southeast Asia with global financial inclusion.

Following its weekend rout, Bitcoin dropped to $74,600 on Monday, marking a nine-month low for the cryptocurrency.

Bitcoin’s decline is mirroring SaaS stocks, proving that it is unlikely a crypto-specific narrative is driving the recent selloff, one analyst argues.