Tether Flips Ether as USDt Becomes Second Largest Crypto

Tether’s USDt has overtaken Ether to become the second-largest cryptocurrency by market capitalization after a sharp drop in ETH. Ether’s market capitalization fell below $185 billion following a 5.2% price crash over 24 hours, sending the asset to $1,510 on Coinbase, per TradingView.

USDt’s market capitalization reached $186 billion, allowing the stablecoin to surpass Ether. The flip underscores rising demand for stability amid recent volatility. "The stablecoin overtake really highlights how the market still favors stability over ETH’s volatility right now," said Andri Fauzan Adziima, research lead at Bitrue Research Institute.

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