Stablecoin issuer Tether reported 109 million on-chain wallets holding USDT at the start of Q4 2024, positioning USDT as one of the most widely used digital assets. This growth highlights the stablecoin's dominance and accessibility, particularly among retail users.
Retail Users Drive Adoption
USDT’s appeal stems from its inclusivity for small-scale users:
- 18.7 million wallets hold balances under $1.
- 31.5 million wallets manage $1–$1,000.
- Nearly 30% of smaller wallets are reactivated periodically, indicating USDT’s role as a trusted financial tool.
Philip Gradwell, Tether’s Head of Economics, emphasized:
“The prevalence of low-balance wallets highlights USDT’s accessibility to unbanked users.”
Meanwhile, 1 million+ wallets hold over $1,000, with most managing $1,000–$10,000.
Market Dominance and Integration
- USDT wallets now rival Ethereum’s user base and far surpass Bitcoin’s.
- 86 million centralized exchange accounts have received USDT deposits.
- Emerging markets drove 4.5 billion exchange visits in 2024, with USDT often used for savings and transactions.
👉 Discover how USDT is reshaping digital finance
Stablecoin Supremacy
- USDT commands 97.5% of stablecoin supply across 25 blockchains.
- Its wallet count outpaces competitors by 4x.
- Resilience during market disruptions (e.g., FTX collapse, USDC depegging) solidified its global reliability.
FAQ
Q: Why is USDT popular in emerging markets?
A: It offers a stable alternative for saving and transacting amid volatile local currencies.
Q: How does USDT compare to other stablecoins?
A: USDT leads with 4x more wallets and near-total market share dominance.
Q: What drives small-balance wallet activity?
A: Users intermittently reactivate wallets as funds become available, relying on USDT for everyday needs.
👉 Explore the future of stablecoins
Data sourced from Tether’s Dec. 2024 report.
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