Tether stablecoin flips Ether by market cap as ETH routs to $1.5K
USDt has overtaken Ether to become the second-largest cryptocurrency by market capitalization after ETH dropped 5.2% in 24 hours to around $1,510, cutting its market cap below $185 billion. USDt rose to about $186 billion as investors showed a stronger preference for stability amid volatility. The move underscores rapid stablecoin growth, with stablecoins now making up nearly 15% of total crypto market value and reaching record highs this cycle. Analysts said the shift reflects strong demand for liquid on- and off-ramps and suggests ETH must improve utility and narrative momentum to retain relevance. Ether is trading near key long-term support, while the Ethereum ecosystem is also undergoing leadership and workforce changes. Some investors are buying the dip, including Sharplink and Bitmine. Separately, USDC also surpassed XRP in market cap as XRP weakened.
