Ether fell to a 2026 low near $1,500. Tether just passed it in total market value.
ETH has dropped so far that a dollar-pegged coin now outranks it by size. One institution is betting that's a floor.
CryptoVibe Desk · ethereum · tether · market-cap
- →Ether dropped to around $1,500 today, its lowest level of 2026, and Tether's market cap overtook Ethereum's at that price, per CoinTelegraph.
- →The $1,500 level has acted as long-term support twice before, in October 2023 and April 2025, making this a historically significant test for the second-largest blockchain.
- →Watch whether ETH holds $1,500 through the July 4 weekend close. A confirmed break below that level would put SharpLink's dip-buy thesis in question and invalidate two years of historical support.
- market cap → The total value of all coins in circulation, calculated by multiplying the price per coin by the total number of coins that exist.
- Russell index inclusion → Being added to a major US stock index, which forces large passive investment funds to automatically buy shares of any company on the list.
Ether dropped to around $1,500 this morning, its lowest level of 2026. Per CoinTelegraph, Tether's USDT overtook ETH by total market value at that price.
The $1,500 level has held twice before: October 2023 and April 2025. That's two years of historical support being tested in real time.
Institutional firm SharpLink stepped in. The company bought 5,000 ETH, per crypto.news, its first purchase in eight months. Its total holdings now sit at 876,285 ETH. SharpLink CEO Joseph Chalom named three ETH catalysts in May 2026. Crypto.news reports some have started to materialize.
The stated timing rationale: anticipated Russell index inclusion. Passive funds that track the Russell index must buy shares of any company on it. SharpLink appears to be sizing its ETH position before the inclusion window closes.
If you're watching the ETH tape today, the Tether flip is the headline. The only number that matters more is whether $1,500 holds.
Ethereum's core team is still quiet on its next upgrade timeline. SharpLink's 5,000 ETH dip-buy is doing more for price confidence than anything on the protocol's public roadmap. That's a credibility gap the developers own.
A weekly close below $1,500 before July 4 would invalidate two years of historical support and put SharpLink's dip-buy thesis in question.
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