USDT Overtakes Ethereum Market Cap as ETH Hits $1,510 Low

On June 28, reports confirm USDT briefly surpassed Ethereum to claim the number-two crypto ranking amid a defensive market tone. The overtake occurred after ETH plunged to around $1,510—its lowest level of 2026—driving Ether’s market cap to $185.66 billion while USDT reached $186.06 billion. Ethereum later rebounded near $190 billion, reclaiming second place behind Bitcoin, yet the episode underscores rising stablecoin dominance and investor preference for lower-volatility dollar assets over riskier altcoins.