Crypto
Tether Flips Ethereum in Market Value, But Briefly
Tether (USDT) briefly took over Ethereum (ETH) in market value for the first time in nearly eight years, but its reign was short-lived as Ethereum reclaimed second place.
The shift in rankings came as investors pulled capital from risk assets and turned to stablecoins like USDT for liquidity. The reversal has sparked talk of a 2026 'stablecoin season', with analysts pointing to the growing demand for stability and utility.
Tether's market cap climbed to around $187.05 billion, edging past Ethereum's $186.263 billion. However, Ethereum quickly regained its second spot, with its market cap now back near $188 billion.