Tether's USDT briefly surpassed Ethereum as the second-largest cryptocurrency by market cap on June 26, as Ethereum's price hit a yearly low. Ethereum's market cap fell below $185 billion after a 5.2% drop in 24 hours, with its price on Coinbase dipping to $1,510. This allowed USDT, with a market cap of $186 billion, to temporarily overtake Ethereum. However, Ethereum's market cap has since rebounded to $189.1 billion, once again surpassing USDT's $186 billion, according to Coingecko data.