As Ether fell to a year-to-date low on Friday, the Tether stablecoin USDt became the second-largest cryptocurrency by market capitalization.
Ether’s market cap fell below $185 billion following a 5.2% price crash in 24 hours, with the asset dropping to $1,510 on Coinbase. According to Go to TradingView. This has made it possible for USDt, which has a market capitalization of $186 billion, to surpass that of virtual currencies.
“(The) overtaking of stablecoins highlights that the market still prioritizes stability.” $ETH” Andri Fauzan Adziima, research director at Bitrue Research Institute, told Cointelegraph.
Reflecting the acceleration of development Stablecoin growthcurrently accounts for almost 15% of the total cryptocurrency market capitalization. During the last bear market, stablecoin supply receded by more than 30%, but this time it is at an all-time high. I wrote 21 stocks added on Thursday, including:
“For us, this is the strongest evidence that stablecoins are one of the distinctive use cases of cryptocurrencies and are no longer a cycle-dependent demand.”
usdt flip $ETH In terms of market capitalization. sauce: CoinGecko
Bitget Wallet Chief Operating Officer Alvin Kan told Cointelegraph that the reversal is a “remarkable milestone that highlights the explosive growth and dominance of stablecoins in today’s crypto ecosystem.”
“While this demonstrates strong demand for reliable and liquid on- and off-ramps during times of volatility, it also serves as a reminder: $ETH To maintain that status, it must continue to provide compelling practicality and narrative momentum. ”
Kang said this development is positive for the broader market, as stablecoins’ deeper liquidity supports higher trading volumes and ecosystem innovation.
Related: Sharplink purchased $ETH After an 8-month hiatus as the token reaches its 2026 lows
$ETH The price has now returned to the key support levels last visited in October 2023 and April 2025.
The Ethereum ecosystem has been under pressure recently following layoffs at the Ethereum Foundation. Executive escape and 20% headcount reduction.
However, a new non-profit organization called Ethlabs was formed. released this week Created by leading EF developers and researchers and backed by Ether assets Bitmine and Sharplink.
$ETH Prices are at important long-term support levels. sauce: TradingView
Not everyone is bearish
Some see the decline of the ether as an opportunity.
Ether Financial Company Sharplink bought some dipI bought it for the first time in 8 months and saved 5,000 yen. $ETH on Thursday. tom lee’s bitmine has also been accumulate This low price adds an additional $76,881 $ETH last week.
Meanwhile, the circle $USDC ($USDC) Ripple also reversed $XRP ($XRP) Market capitalization is as follows $XRP It fell back toward $1, its lowest since November 2024, and its market capitalization fell to $64 billion as a result. $USDC 73.6 billion dollars.
magazine: AI is bringing banking to the unbanked in Africa… faster than cryptocurrencies
