The article highlights the growing adoption and widespread use of Tether (USDT), a stablecoin in the cryptocurrency market. The data shows that by the end of Q3 2024, a total of 330 million on-chain wallets had received USDT, indicating its popularity among users. Additionally, there are several tens of millions of people using USDT off-chain on centralized platforms, further contributing to its widespread adoption.

The number of wallets holding USDT at the start of Q4 2024 was 109 million, surpassing the number of wallets holding Bitcoin and coming close to those holding Ethereum. There are also 86 million accounts on centralized platforms that received on-chain USDT deposits, with a significant number of web visits from emerging markets.

The article estimates that at least a third of the 330 million on-chain users who received USDT continue to hold it, demonstrating the trust and utility of USDT as a store of value. Many wallets that currently hold a low balance of USDT are likely to reactivate in the future, as users frequently receive more USDT for repeated payments.

USDT dominates the stablecoin market, with four times more wallets than all other stablecoins combined. Its growth in the past year has been remarkable, driven by wallets holding less than $1,000. Other stablecoins have not experienced the same level of growth in holders as USDT, with USDC being an exception.

The prevalence of low-balance wallets indicates USDT's accessibility to unbanked individuals. The article emphasizes the importance of stablecoins like USDT in economic development, particularly in emerging markets where a significant portion of the population lives on less than $10 a day.

Overall, the data presented demonstrates the widespread adoption, growth, and reliability of Tether (USDT) as a popular stablecoin in the cryptocurrency market.



Other News from Today