USDT's market value briefly surpassed Ethereum today

According to Cointelegraph, as the price of Ethereum fell to its lowest point of the year, the Tether stablecoin USDT briefly became the second-largest cryptocurrency by market capitalization. After Ethereum's market capitalization plummeted by 5.2% within 24 hours, it fell below $185 billion, with its price on Coinbase dropping to $1510 at one point, which allowed USDT, with a market capitalization of $186 billion, to briefly surpass Ethereum. Coingecko data shows that Ethereum's market capitalization has rebounded to $189.1 billion, currently higher than USDT's market capitalization of $186 billion.