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validated figures showed Tether’s market capitalization reaching roughly $186.06 billion while Ethereum’s market value fell to around $185.66 billion during the brief crossover. Ethereum later recovered above the mark, meaning the event should be treated as an intraday milestone rather than a permanent reshuffling of the crypto rankings.#Minebit, the moment was notable because Ethereum has long held the second-largest market capitalization in crypto behind Bitcoin. Stablecoins are not typically viewed in the same way as productive or programmable blockchain networks, but in market capitalization tables they compete for the same ranking space.
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Bitcoin ETFs experienced $696.29 million in net outflows, extending the category’s streak of negative flows to six consecutive days. Redemptions were distributed across eight funds. Fidelity’s FBTC led the outflows with $274.48 million, narrowly ahead of BlackRock’s IBIT at $265.68 million. Ark & 21Shares’ ARKB recorded $82.11 million in exits, while Invesco’s BTCO saw $53.03 million withdrawn. Smaller outflows added further pressure, with VanEck’s HODL losing $11.72 million, Bitwise’s BITB shedding $7.07 million, Franklin’s EZBC posting a $6.84 million exit, and Valkyrie’s BRRR recording $4.51 million in redemptions.