Tether announced that as of Q4 2024, over 109 million on-chain wallets hold USDT, marking a significant milestone in the acceptance of its stablecoin. This achievement positions USDT among the most widely used digital assets globally, reflecting notable increases in both individual and institutional adoption.
USDT Wallet Growth
According to Tether’s recent report, the number of cryptocurrency wallets holding USDT reached 109 million in Q4 2024, representing substantial growth compared to previous years. This figure is double that of Bitcoin 
$94,742 wallets and is close to the number of Ethereum 
$3,268 wallets.
The adoption rate is particularly striking, with the number of wallets holding more than one cent of USDT increasing by 71% over the past year. This indicates USDT’s continued central role within the crypto ecosystem.
Increased Adoption in Emerging Markets
The rise in USDT adoption is linked to the expansion of use cases such as cross-border payments, savings, and trading. Tether’s presence across multiple blockchain platforms further facilitates its widespread use.
With over 54 million wallets holding more than one cent of USDT, its position as the leading stablecoin is reinforced. The number of wallets holding USDT grows four times faster compared to all other stablecoins.
Additionally, a recent report from the U.S. Treasury highlighted the rapid growth of stablecoins and their increasing role in the digital asset market. The report noted that a significant portion of fiat-backed stablecoins is invested in Treasury bonds and Treasury-collateralized repos.
“Stablecoins are increasingly playing a vital role in the digital asset market, with a substantial portion of current collateral tied to U.S. Treasury bonds.” – U.S. Treasury Report
The growing adoption of Tether’s USDT signals a significant shift in the stablecoin market. Its usage in emerging markets and global trading could be crucial for defining USDT’s role in the future.
