New data from Tether has revealed that the adoption of the firm’s USDT has reached a significant milestone, with the number of users now surpassing 330 million. This figure is equivalent to the entire population of the United States, highlighting the widespread popularity of the dollar-pegged digital asset.
According to a recent blog post by Tether, the rapid growth in adoption of USDT has been evident over the past year, with an average increase rate of 9% per quarter. The latest quarter, Q3 of 2024, saw a record-breaking 36.25 million new users joining the USDT ecosystem.
The data also indicates that the adoption rate of USDT is accelerating, with each quarter adding more users than the previous one. This trend reflects the increasing interest in digital assets and the role they play in the global financial landscape.
Tether defines a “user” as someone who engages in on-chain activity or holds USDT on a centralized exchange platform. However, the true number of USDT users is likely higher than the reported figure, as off-chain accounts held by centralized platforms are not accounted for in the data.
To provide a more comprehensive view of the user base, Tether suggests that the inclusion of off-chain accounts could reveal several tens of millions more users. This indicates that the adoption of USDT is even more widespread than initially reported.
Overall, the data from Tether highlights the growing popularity of USDT and the increasing interest in digital assets among users worldwide. The firm’s continued efforts to provide a stable and reliable digital asset have contributed to this surge in adoption, with millions of users now utilizing USDT for various purposes.
As the digital asset landscape continues to evolve, Tether remains at the forefront of innovation, providing users with a secure and efficient way to transact in the digital economy. With the number of USDT users surpassing the population of the United States, it is clear that digital assets are here to stay and will play an increasingly important role in the future of finance.