Why is daily volume of USDT almost 8x its total market cap?

I was looking at the daily stats over at coinmarketcap.com and this struck me as highly exceptional. It says market cap is $4,638,181,071 and daily volume is $36,189,763,153. Is there any reasonable explanation for this extreme ratio, or are the numbers simply wrong?

Submitted January 20, 2020 at 07:30PM

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