Tether’s USDT reaches 330M wallets from explosive Ethereum L2 and TON network growth
Tether reports that approximately 330 million on-chain wallets and accounts received USDT by the end of Q3 2024, indicating strong user engagement. The user base has grown by an average of 9% per quarter, with 36.25 million new users in Q3 alone, excluding those using USDT on centralized exchanges. Tether's CEO states that USDT has become a digital dollar for emerging markets. USDT, with a market capitalization of nearly $120 billion, dominates the stablecoin market at 69%. The highest usage occurs on Tron, Binance Smart Chain, and Ethereum, with significant growth on Ethereum Layer 2 networks. USDT recently launched on the TON and Celo networks, with TON adding 3.3 million users in six months and over 4.5 million transactions in the last 30 days, totaling around $300 million in transactions. The net USDT supply on TON is approximately $738 million.
