Tether becomes number two cryptocurrency, Mike McGlone notes

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Tether overtakes Ether in crypto ranking

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Daria Chernytska

06.06.2026

Tether becomes number two cryptocurrency, Mike McGlone notes — Tether overtakes Ether in crypto ranking

Mike McGlone highlights the shifting landscape in the cryptocurrency market, noting that Tether has surpassed Ether to become the second largest cryptocurrency after Bitcoin.

He points out that the U.S. dollar, through Tether as a stablecoin, now underpins much of the crypto ecosystem. McGlone adds that crypto assets have adopted the dollar as their base layer and invested in U.S. Treasuries.

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McGlone has issued previous market forecasts, projecting $98,000 for bitcoin by 2026 alongside price targets for crude oil, gold, and corn. He has also commented on cross-asset performance, noting TLT’s 10-year low against the U.S. Oil Fund. His recent observations continue his pattern of tracking major shifts in both digital and traditional asset classes.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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