Tether Briefly Dethrones Ethereum As Crypto's No. 2 Asset

Tether briefly took the second spot as the largest cryptocurrency by market value on Friday, surpassing Ethereum. This happened after a sharp selloff dragged ETH to its lowest price of $1,510 in 2026.

The market capitalization of Tether (USDT) edged near $186 billion, while that of Ether (ETH) slipped below $185 billion for the first time in months. The two assets had been neck and neck, with USDT's supply growing as new coins were issued rather than as prices climbed.

Analysts described the rotation as a textbook flight to safety, favoring stability over Ether's volatility. Andri Fauzan Adziima, research lead at Bitrue Research Institute, said: 'The market still favors stability over Ether's volatility.'