Bloomberg Intelligence strategist Mike McGlone predicts that Tether (USDT), a dollar-backed stablecoin, may soon overtake Bitcoin as the largest cryptocurrency by market capitalization. This shift is driven by macroeconomic tightening, which favors stablecoins linked to the US dollar over more volatile assets like Bitcoin and Ethereum. McGlone foresees a significant correction in Bitcoin's price, potentially dropping to $10,000, which would accelerate Tether's rise. This scenario challenges the traditional crypto hierarchy and raises questions about the future role of decentralized finance and digital assets.
XRP, Ripple's native token, has fallen 43% year-to-date, hitting an annual low near $1.01 amid a broader crypto market correction. Despite Ripple's ongoing efforts to integrate XRP Ledger into global finance, the token underperforms against competito...
Bloomberg Intelligence strategist Mike McGlone forecasts that Tether (USDT), a dollar-pegged stablecoin, is likely to overtake Bitcoin as the largest cryptocurrency by market value. He highlights the growing dominance of stablecoins reshaping the cry...
Tether's USDT stablecoin briefly overtook Ether to become the second-largest cryptocurrency by market capitalization, reaching about $186.06 billion compared to Ether's $185.66 billion. This rare flip was driven by increased USDT issuance and a falli...
Bitcoin experienced significant capital outflows as traders moved funds into stablecoins like USDT and USDC, as well as fiat currencies including USD, BRL, and TRY. This shift indicates a defensive market stance, with investors seeking liquidity and ...
Tether's USDT stablecoin briefly overtook Ethereum in fully diluted valuation as ETH prices fell to their lowest in 2026, highlighting strong demand for stablecoins even during crypto market downturns. USDT's valuation reached about $191.5 billion, s...
