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Tether's USDt stablecoin became the second-largest cryptocurrency by market cap, surpassing Ether. Ether's price crashed 5.2% in 24 hours to $1,510 on Coinbase, dropping its market cap below $185 billion. USDt's $186 billion market cap now exceeds Ether's, reflecting stablecoin dominance at nearly 15% of the total crypto market.
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Summary by ByteBrief
UK fintech's stablecoin clash with the Bank of England