Tether stablecoin flips Ether by market cap as ETH drops to $1.5K

Tether's USDt stablecoin has overtaken Ether to become the second-largest cryptocurrency by market capitalization, as ETH plunged toward $1,500 in a broad crypto market selloff.

According to data from CoinGecko, USDt's market cap rose above $110 billion while Ether's fell below that level, marking a historic shift in the crypto asset rankings. Ether prices are currently testing crucial long-term support levels last seen in October 2023 and April 2025, as selling pressure intensifies across the market. The selloff has been driven by a combination of macroeconomic headwinds, including rising US Treasury yields and a stronger dollar, which have dampened risk appetite for digital assets.

For cryptocurrency traders, the flip underscores the growing dominance of stablecoins as a safe haven within the ecosystem during periods of volatility. As ETH drops, traders can monitor the move on NowPrice's live crypto dashboard to track real-time price action and market cap changes. The event also highlights the shifting dynamics between major crypto assets, with stablecoins playing an increasingly central role in liquidity and trading.

Looking ahead, market participants will watch whether Ether can hold the $1,500 support level, which has historically acted as a strong floor. A breakdown below this level could open the door to further losses toward $1,200. On the upside, a recovery above $1,800 would signal a potential reversal. Key data releases this week, including US GDP and PCE inflation figures, could provide further direction for risk assets including cryptocurrencies.