The stablecoin market cap has shrunk by $10 billion since May, with $7.7 billion in June alone, the largest monthly drop since May 2022.
Tether (USDT) has flipped Ether's (ETH) market cap as ETH routs to $1,500, revisiting crucial long-term support levels last seen in October 2023.
The stablecoin Tether (USDT) has surpassed Ether (ETH) in market capitalization, with ETH's price falling to $1,500 amidst market volatility.
SpaceX's $600 billion valuation plunge, equivalent to nearly half of Bitcoin's market cap, saw Bitcoin fall by less than 1% over three days.
Analysts suggest Bitcoin's market cap may take up to a decade to regain its top five global asset ranking, despite signs of the bear market nearing its end.
SpaceX's swift ascent to a nearly $2.6 trillion valuation is drawing significant risk capital, creating new competition for the cryptocurrency market.
Bitcoin is battling to hold its crucial $60,000 support level as the wider cryptocurrency market experiences a significant $2 trillion reduction in value.
The global cryptocurrency market capitalization has exceeded $3.2 trillion, fueled by growing institutional interest and positive regulatory developments from major economies.