Tether has announced that as of Q4 2024, more than 109 million on-chain wallets now hold USDT, marking a significant milestone in the stablecoin’s global acceptance. The impressive growth in both individual and institutional adoption solidifies USDT’s position as one of the most widely used digital assets worldwide.
Record Growth in USDT Wallets
According to Tether’s recent report, the number of wallets holding USDT has soared to 109 million, reflecting a remarkable increase compared to previous years. This figure is twice the number of Bitcoin wallets and closely rivals Ethereum wallets, underscoring USDT’s central role in the crypto ecosystem.
Notably, wallets holding at least one cent of USDT have grown by 71% within the past year, further emphasizing its dominance as the leading stablecoin.
Widespread Adoption in Emerging Markets
The adoption of USDT has expanded rapidly, driven by its use in cross-border payments, savings, and trading. Tether’s availability across multiple blockchain platforms facilitates seamless integration and broad usage.
With over 54 million wallets holding more than one cent of USDT, the stablecoin is growing at a rate four times faster than any other competitor. This rapid expansion reinforces its position as a leader in the stablecoin market.
A recent report by the U.S. Treasury also highlighted the rising importance of stablecoins, particularly those backed by fiat. The report stated:
“Stablecoins are playing an increasingly significant role in the digital asset market, with much of their collateral tied to U.S. Treasury bonds.”
USDT’s Future Role in the Crypto Ecosystem
The growing adoption of USDT signals a transformative shift in the stablecoin market. Its increasing use in emerging markets and global trade positions USDT as a critical player in the future of digital finance.
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