PANews reported on June 26, according to Cointelegraph, that as Ethereum’s price dropped to a yearly low, Tether’s stablecoin USDT briefly became the second-largest cryptocurrency by market cap. Ethereum’s market cap fell below $185 billion after plunging 5.2% in 24 hours, and its price on Coinbase once dipped to $1,510, allowing USDT, with a market cap of $186 billion, to momentarily surpass Ethereum.
Coingecko data shows that Ethereum’s market cap has rebounded to $189.1 billion, now sitting above USDT’s $186 billion market cap.
