Tether USDT Briefly Otakes Ethereum in Market Value for Hours
Updated
Updated · Bloomberg · Jun 12
Tether USDT Briefly Otakes Ethereum in Market Value for Hours
3 articles · Updated · Bloomberg · Jun 12
Summary
For several hours last weekend, Tether’s USDT stablecoin exceeded Ether’s market value, a rare crossover that temporarily put the dollar-pegged token ahead of Ethereum’s native asset.
The lead was short-lived, but the episode underscored how large stablecoins have become relative to major cryptocurrencies once seen as the market’s unquestioned core holdings.
That symbolism matters because USDT is designed to track $1 rather than appreciate like a speculative token, making its brief move above Ether a marker of shifting crypto market structure.