Recent figures released by Tether indicate that the number of individuals who have embraced the company’s USDT is now on par with the entire population of the United States.
In a fresh blog update, Tether states that the leading dollar-pegged digital currency by market capitalization currently boasts over 330 million users, excluding those who only engage with it on centralized exchange platforms such as Coinbase or Binance.
“USDT has experienced considerable adoption, with 330 million on-chain wallets and accounts, representing users who have ever received USDT by the end of Q3 2024 – which is equivalent to the population of the USA.”
“And this figure does not account for those who only utilize USDT on centralized platforms, which comprises several tens of millions more, according to our partners.”
Tether notes that the growth rate of USDT adoption is accelerating, with the last four quarters reflecting an average growth rate of 9%.
“The extraordinary growth in users continues to gain momentum, with each quarter bringing in more users than the previous one. In fact, the last four quarters recorded an average increase of 9%, with Q3 of 2024 being our most successful yet, adding 36.25 million users.”
Tether defines a “user” as anyone participating on-chain or as an entity on a centralized exchange. However, due to an inability to quantify off-chain users, Tether suggests that the actual number of USDT users is likely much higher than what has been reported.
“To get a full picture, we need to consider off-chain accounts, which are known only to centralized platforms. Our partners suggest there are several tens of millions of these accounts, indicating that the true number of USDT users exceeds what is presented here.”
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