New data from Tether reveals that the number of people who have adopted the company’s USDT is now equivalent to the entire population of the United States.
In a new blog post, Tether claims that the largest dollar-pegged digital asset by market capitalization now has more than 330 million users, not counting those who use it only on centralized exchanges like such as Coinbase or Binance.
“USDT has seen significant adoption, with 330 million on-chain wallets and accounts, a proxy for users, still receiving USDT at the end of Q3 2024 – equivalent to the population of the United States .
And that doesn’t include people who only use USDT on centralized platforms, which would be several tens of millions more according to our partners.
According to Tether, the USDT adoption rate is accelerating as the last four quarters have shown an average increase rate of 9%.
“The remarkable user growth continues to accelerate, with each quarter adding more users than the last. In fact, the last four quarters have seen an average increase of 9%. Q3 2024 was our best yet, welcoming 36.25 million users.
Tether defines a “user” as either a person performing activity on-chain or an entity on a centralized exchange. But since it can’t count the number of off-chain users, Tether says the number of USDT users is likely significantly higher than what they found.
“To have a complete picture, we should add off-chain accounts, which are only known to centralized platforms. Our partners report that there are several tens of millions of these accounts, meaning the true number of USDT users is even higher than we present here.
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