USDT overtook Ethereum to become the second largest cryptocurrency in market value

The market value of Tether stablecoin USDT reached US$186 billion, surpassing Ethereum and becoming the second largest cryptocurrency by market value. The market value of Ethereum fell below US$185 billion after falling 5.2% in 24 hours, and the price once fell to US$1510. The current market value of stablecoins accounts for nearly 15% of the overall market value of cryptocurrencies. 21Shares said that the supply of stablecoins fell by more than 30% in the previous bear market, but this round has hit an all-time high. The market value of Circle's USDC also exceeded Ripple's XRP; the market value of XRP dropped to US$64 billion, and the market value of USDC was US$73.6 billion.（Cointelegraph）