{"id":33106,"date":"2026-06-26T07:17:25","date_gmt":"2026-06-26T07:17:25","guid":{"rendered":"https:\/\/bitunikey.com\/news\/ethereum-price-slump-lets-usdt-briefly-flip-eth-by-fdv\/"},"modified":"2026-06-26T07:17:36","modified_gmt":"2026-06-26T07:17:36","slug":"ethereum-price-slump-lets-usdt-briefly-flip-eth-by-fdv","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/ethereum-price-slump-lets-usdt-briefly-flip-eth-by-fdv\/","title":{"rendered":"Ethereum price slump lets USDT briefly flip ETH by FDV"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Tether\u2019s USDT briefly overtook Ethereum by fully diluted valuation as ETH fell to its lowest price of 2026.\u00a0<\/p>\n<div id=\"cn-block-summary-block_667e3cde797a12afc455102e504e5975\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>USDT briefly passed ETH by FDV as Ethereum fell to its weakest 2026 level.<\/li>\n<li>Stablecoin demand keeps expanding even as Ether struggles with selling pressure and ecosystem changes this week.<\/li>\n<li>Ethereum treasuries are buying ETH dips, but USDT\u2019s growth shows stronger defensive market demand.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>The move put stablecoin demand in focus during another weak session for the wider crypto market.<\/p>\n<p>Market data showed USDT\u2019s fully diluted valuation near $191.5b, above ETH\u2019s roughly $189.3b. Ethereum later held its #2 spot by market capitalization, while Tether remained third by circulating market value. The brief flip still showed how close the two assets have become during the latest downturn.<\/p>\n<figure class=\"wp-block-image size-large\"><figcaption class=\"wp-element-caption\">Tether briefly overtook Ethereum, source: crypto.news<\/figcaption><\/figure>\n<p>The gap closed as ETH fell more than 5% over 24 hours. Ethereum traded near support levels last seen in October 2023 and April 2025. USDT stayed close to $1, as expected for a dollar-pegged stablecoin.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\"><strong>Stablecoin demand keeps growing<\/strong><\/h2>\n<p>The move also fits a larger market trend. Stablecoins have continued to grow even as major crypto assets have fallen. In a recent <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.21shares.com\/en-eu\/insights\/its-halftime-our-2026-crypto-predictions-six-months-on\" target=\"_blank\" rel=\"nofollow\">mid-year market update<\/a>, 21Shares said, \u201cStablecoins retracted 30%+ in the last bear market. This time they\u2019re hitting new all-time highs.\u201d<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Stablecoins retracted 30%+ in the last bear market. This time they&#8217;re hitting new all-time highs. To us, that is the strongest evidence yet that stablecoins are one of crypto\u2019s defining use cases \u2013 demand that no longer depends on the cycle.<\/p>\n<p>Read more in our State of Crypto\u2026 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/ylYHE9Fbsz\">pic.twitter.com\/ylYHE9Fbsz<\/a><\/p>\n<p>\u2014 21shares (@21shares) <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/21shares\/status\/2070062259372536049?ref_src=twsrc%5Etfw\">June 25, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>That contrast matters because stablecoins often serve as trading collateral, payment rails and dollar liquidity inside crypto markets. Strong stablecoin supply during a bear market suggests users are not leaving crypto rails completely. Instead, many are moving into dollar tokens while waiting for better conditions.<\/p>\n<p>Tether has also expanded its use cases beyond exchange trading. As previously reported, Tether-backed Oobit brought USDT payments to Brazil\u2019s Pix network, giving users another way to hold dollar tokens and spend through local payment rails.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Ethereum faces market and internal pressure<\/strong><\/h2>\n<p>Ether\u2019s weakness comes as the Ethereum ecosystem faces several changes. The token has struggled near long-term support, while investors watch ETF flows, treasury activity and network funding debates.<\/p>\n<p>As crypto.news reported, the Ethereum Foundation cut roughly 20% of its workforce as part of a wider restructuring. The move removed 54 roles and added new questions about Ethereum\u2019s development structure during a period of weak ETH performance.<\/p>\n<p>The ecosystem also added a new research group. In a previous article, crypto.news discussed Ethlabs, a nonprofit backed by Joe Lubin, BitMine and SharpLink. The group includes former Ethereum Foundation researchers and will work on settlement speed, network capacity, native asset issuance and cross-chain standards.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Treasury buyers return to Ethereum<\/strong><\/h2>\n<p>Some corporate Ethereum treasury firms are still buying the dip. As reported today, SharpLink bought 5,000 ETH after an eight-month pause as Ether traded near yearly lows. The company now holds 876,285 ETH, including staking rewards.<\/p>\n<p>BitMine has taken a much larger position. As crypto.news reported, Tom Lee\u2019s BitMine staked 86% of its ETH holdings, lifting staked ETH to about 4.88m tokens. That gives BitMine one of the largest public ETH treasury positions in the market.<\/p>\n<p>These purchases show that some institutional players still view ETH as a long-term treasury asset. But the USDT flip by FDV shows a different side of the market. Traders are still choosing stable dollar liquidity while ETH tries to defend key support.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether\u2019s USDT briefly overtook Ethereum by fully diluted valuation as ETH fell to its lowest price of 2026.\u00a0 Summary USDT briefly passed ETH by FDV as Ethereum fell to its&hellip;<\/p>\n","protected":false},"author":1,"featured_media":32153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-33106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/33106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=33106"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/33106\/revisions"}],"predecessor-version":[{"id":33107,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/33106\/revisions\/33107"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/32153"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=33106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=33106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=33106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}