Tether Overtakes Ethereum in Market Cap as ETH Crashes to $1,500

Ethereum plunged to $1,500 on June 26, allowing stablecoin Tether to surpass it in market capitalization. The sharp selloff followed a macro risk-off wave after U.S. inflation rose to 4.1% year-over-year, Apple raised Mac and iPad prices up to 25%, and rate-cut hopes faded. Heavy leverage amplified the move, triggering nearly $500 million in long liquidations in one hour and over $1 billion in positions wiped out within 24 hours. ETH briefly touched $1,512 before recovering toward $1,568, with $1,500 now viewed as critical support.