Tether Reports Significant Increase in USDT Adoption with 330 Million Users

The Surge in Tether Adoption: A Statistical Overview

According to recent reports from Odaily, Tether's stablecoin, USDT, has witnessed significant traction in the cryptocurrency market. As of the end of the third quarter of 2024, an astounding 330 million on-chain wallets and accounts, essentially representing users, received USDT. This number startlingly mirrors the population of the United States.

Excluding Centralized Platform Users

It's important to note that this figure accounts only for those utilizing USDT on-chain and does not encompass the users engaging with USDT through centralized platforms. Data from Tether's partners indicates that users on these centralized exchanges are in the tens of millions.

Accelerating User Base Growth

The momentum behind Tether's user base is only increasing; with every passing quarter, new users are being onboarded at a record pace. Over the past four quarters, Tether's average growth rate has been a steady 9%.

Record High New Users in Q3 2024

The third quarter of 2024 paints an impressive picture for Tether. This period marked a record high for new Tether users, reaching a remarkable 36.25 million. Such growth not only demonstrates the growing popularity of Tether in the cryptocurrency ecosystem but also underscores the broader acceptance of stablecoins in global trade and transactions.

What This Growth Means for the Industry

The burgeoning adoption of USDT indicates a growing trust in stablecoins as a viable alternative during volatile market conditions. Tether's position as a leading stablecoin is solidified by its extensive use, and its consistent growth suggests that it will play a pivotal role in the future of digital finance.

Conclusion

In summary, Tether's rise in adoption, with its impressive user figures and consistent growth, highlights a significant trend in the cryptocurrency landscape. As the number of users continues to soar, Tether is set to maintain its relevance in the market, adapting to the evolving needs of users globally.