On June 26, 2026, Tether (USDT) surpassed Ethereum (ETH) in market capitalization for the first time, with USDT reaching $186.06 billion compared to ETH's $185.66 billion — a difference of $400 million. USDT is now the second-largest cryptocurrency asset by market value, behind only Bitcoin. This milestone reflects increasing demand for dollar-pegged stablecoins amid volatile market conditions as investors adopt defensive strategies. Additionally, USDT0, Tether's multi-chain version developed by Everdawn Labs, exceeded $100 billion in cumulative trading volume on June 25, 2026, less than 530 days after its launch in January 2025, signaling rapid adoption across multiple blockchain networks.

ETH-0.59%
BTC-0.16%
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