Tether · Ethereum · Coinbase · BitMine Immersion Technologies · Cointelegraph
Tether stablecoin flips Ether by market cap as ETH routs to $1.5K
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Ether prices are currently back at crucial long-term support levels last visited in October 2023 and April 2025.
Key facts
- Meanwhile, Circle’s USDC (USDC) also flipped Ripple’s XRP (XRP) in market capitalization as XRP fell back towards $1, its lowest level since November 2024, leaving XRP with a market capitalization
- Ether’s market capitalization dropped below $185 billion following a 5.2% price crash over 24 hours, sending the asset tumbling to $1,510 on Coinbase, according to TradingView
- ETH prices are back at crucial support levels last visited in October 2023 and April 2025
- Ether prices are currently back at crucial long-term support levels last visited in October 2023 and April 2025
Summary
Tether stablecoin USDt has become the second-largest cryptocurrency by market capitalization as Ether fell to its lowest price of the year on Friday. Ether’s market capitalization dropped below $185 billion following a 5.2% price crash over 24 hours, sending the asset tumbling to $1,510 on Coinbase, according to TradingView. “ stablecoin overtake highlights how the market still favors stability over ETH’s volatility right now,” Andri Fauzan Adziima, research lead at Bitrue Research Institute, told Cointelegraph. The development reflects accelerating stablecoin growth, which currently represents almost 15% of the entire crypto market capitalization.