New data from Tether shows that the number of people who have adopted the company’s USDT is now equal to the entire population of the United States.
In a new blog post, Tether said that the largest dollar-pegged digital asset by market capitalization currently has more than 330 million users, not counting those who use it solely on centralized exchange platforms like Coinbase or Binance.
“USDT has seen significant adoption with 330 million on-chain wallets and accounts serving as proxies for users eligible to receive USDT by the end of Q3 2024. This corresponds to the US population.
And this does not include those who only use USDT on centralized platforms, of which there are tens of millions more, according to our partners.”
According to Tether, USDT adoption is accelerating, with an average increase of 9% over the past four quarters.
“Our significant user growth continues to accelerate, with more users being added each quarter than before. In fact, it has averaged a 9% increase over the past four quarters. “The third quarter of 2024 was an all-time record, welcoming 36.25 million users.”
Tether defines a “user” as a person performing activities on-chain or an entity on a centralized exchange. However, Tether says that the number of USDT users is likely much higher than it discovered, as it cannot calculate the number of users off-chain.
“To get a complete picture, we need to add off-chain accounts that are only known to the centralized platform. “Our partners have reported tens of millions of such accounts, meaning the actual number of USDT users is much higher than shown here.”
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