Tether’s USDT Hits New High—330 Million Wallets And Counting
As of Q3 2024, Tether's USDT stablecoin has reached 330 million on-chain wallets, establishing itself as the market leader in stablecoins. The number of wallets holding USDT has surged by 71% in one year, particularly among small holders with balances under $1,000. Approximately 18.7 million wallets hold less than $1 of USDT, indicating its utility for low-resource users, with about 30% of these wallets being regularly reactivated. The growth is partly attributed to the FTX crash, prompting users to self-manage assets. USDT dominates the stablecoin market, accounting for 97.5% of the total supply and surpassing Bitcoin in active wallet counts. Emerging markets significantly contribute to this growth, with USDT facilitating remittances and transactions, promoting financial inclusion for those earning less than $10 per day.
