USDT Surpasses XRP as Market Cap Rankings Shift Amid $1.7B Liquidation Storm

The cryptocurrency market experienced a turbulent start to the week, with massive liquidations totaling over $1.7 billion as major digital assets including Bitcoin, Ethereum, and XRP plunged to multi-week lows. This significant market downturn has triggered allegations of potential manipulation while reshaping the hierarchy of top cryptocurrencies by market capitalization. In a notable development, XRP lost its long-held position as the third-largest cryptocurrency to Tether (USDT), marking a significant shift in the stablecoin's market standing. The liquidation event, one of the largest in recent months, affected leveraged positions across multiple exchanges and trading platforms. Market analysts suggest that the sudden price movements reflect growing volatility in the digital asset space, with regulatory uncertainties and macroeconomic factors contributing to the sell-off. The displacement of XRP by USDT highlights the increasing importance and market dominance of stablecoins within the cryptocurrency ecosystem. As traders and investors assess the damage, questions about market stability and the potential for further corrections remain prevalent. The event underscores the inherent risks in leveraged cryptocurrency trading while demonstrating how quickly market dynamics can change in the rapidly evolving digital asset landscape. Industry observers will be closely monitoring whether this represents a temporary fluctuation or signals a more fundamental restructuring of cryptocurrency market rankings.

Over $1.7B Liquidated as Crypto Prices Slide; XRP Loses Third Spot to USDT

The cryptocurrency market began the week with significant declines, as Bitcoin (BTC), Ethereum (ETH), and XRP plunged to multi-week lows. Over $1.7 billion in leveraged positions were liquidated, fueling allegations of market manipulation and reshuffling the rankings of top assets by market capitalization.

XRP, once the third-largest cryptocurrency by market cap, ceded its position to Tether (USDT) amid the sell-off. The broad downturn underscores the volatility inherent in digital asset markets, where rapid price movements can trigger cascading liquidations.

While the exact causes remain debated, the scale of liquidations suggests excessive leverage was unwound across major exchanges. Such events often create buying opportunities for long-term investors, though timing the market bottom remains challenging.

Quid Miner's Sustainable Cloud Mining App Offers Passive Income for BTC, ETH, and XRP Holders

The approval of Bitcoin and ethereum ETFs, coupled with the anticipated launch of an XRP ETF, has reignited interest in the cryptocurrency market. While these financial instruments provide institutional investors with compliant exposure to crypto prices, they fall short of addressing the demand for stable cash flow in a volatile market.

UK-based Quid Miner, operational since 2010 and active in cloud mining since 2018, is capitalizing on this gap. The platform combines regulatory compliance with green energy initiatives and automated optimization to deliver predictable passive income streams. Its AI-driven system dynamically allocates computing power to high-potential assets including BTC, ETH, and XRP.

With data centers powered by renewable energy sources, Quid Miner meets ESG criteria favored by institutional investors. The platform supports multiple cryptocurrencies and employs enterprise-grade security solutions to protect user assets.

Web3 Social Media Platform UXLINK Loses $11 Million in Multisig Wallet Breach

UXLINK, an AI-driven social infrastructure project for Web3, suffered a major security breach resulting in the loss of $11.3 million. The attackers exploited a delegateCall vulnerability to override admin privileges, draining assets including USDT, USDC, WBTC, and ETH.

The stolen funds were rapidly funneled to centralized and decentralized exchanges, triggering a 1700% surge in UXLINK token trading volume. The team has activated emergency protocols and is collaborating with security experts to trace the transactions.

TRON’s High Network Activity Fails to Boost TRX Amid Bearish Pressure

TRON's network demonstrates robust activity with 9-10 million daily transactions and $25 billion in USDT transfers, yet TRX price struggles. The altcoin dropped 3.03% daily and 3.96% weekly, trading at $0.336 amid sustained selling pressure.

CryptoQuant data reveals a 20% increase in TRON's 30-day moving average for transactions since January, signaling growing adoption. Stablecoins, particularly USDT, dominate volume with $25 billion in transfers, per Artemis metrics.

Spot Taker CVD shows a -35 million Delta, indicating persistent seller dominance. Unless market sentiment reverses, TRX faces potential downside toward $0.32 despite strong fundamentals.

Bolivia's First Toyota Purchase with USDT Marks Crypto Adoption Milestone

Bolivia has recorded its first major vehicle purchase using Tether's USDT stablecoin, signaling accelerating cryptocurrency adoption in the nation's automotive sector. crypto security firm BitGo verified the Toyota transaction on September 20, while Tether CEO Paolo Ardoino showcased dealership signage promoting USDT as an "easy, fast, and safe" payment option.

The Central Bank of Bolivia reports $294 million in crypto payments during H1 2025 - a staggering 630% increase from 2024 figures. Three international manufacturers including Toyota, Yamaha, and BYD now accept USDT, partly due to Bolivia's shrinking USD reserves. Tether's market dominance continues unchallenged, with USDT's capitalization reaching $172.279 billion and commanding 58.8% of the stablecoin market.

BitGo's partnership with Tether and Bolivia Toyota ensures seamless self-custody solutions for such transactions. This development underscores Latin America's growing preference for dollar-pegged digital assets amidst macroeconomic volatility.

Justin Sun Launches SunPerp, TRON's First Native Perpetual DEX

Justin Sun, founder of TRON and advisor to HTX, unveiled SunPerp during an X Space event hosted by HTX Live, TRON, and SunPerp. The platform marks TRON's entry into the perpetual decentralized exchange (Perp DEX) arena, boasting the lowest trading fees in the market. SunPerp aims to pivot TRON from a transfer-focused blockchain to a trading hub, leveraging its dominance in USDT circulation.

The strategic launch fills a critical gap in TRON's ecosystem, as major blockchains typically feature native perpetual futures platforms. With USDT as the backbone, SunPerp targets TRON's vast user base, unlocking new trading potential. "This transforms TRON into a trading chain," Sun emphasized, signaling accelerated ecosystem growth.