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

Key Facts

The crypto market witnessed a notable shift in asset rankings by market capitalization, as stablecoin Tether flipped Ether, according to market data. The change followed ETH's drop to $1,500, the lowest level since October 2023 and April 2025, per specialized reports.

The sharp decline in ETH is attributed to a broad sell-off across major cryptocurrencies amid growing regulatory concerns and outflows from spot exchange-traded funds. Rising demand for stablecoins as a temporary safe haven further boosted Tether's position as the largest asset by market cap in the sector.

Traders are now watching whether ETH can hold the critical support at $1,500 in upcoming sessions, as a breakdown could open the door to further declines toward $1,350. On the upside, dip-buying might trigger a quick rebound, but the absence of fresh positive catalysts suggests selling pressure may persist in the near term.