Tetherreached a significant milestone in the number of users of its stablecoin USDT in the third quarter of 2024. According to the latest report published by the company, the number of on-chain wallets and accounts, that is, users, increased to 330 million. This figure is equivalent to the population of the USA. There are also tens of millions of additional users using USDT on centralized platforms alone. The 36.25 million new users recorded in the last quarter was the highest increase to date.
The Increase in the Number of Users Continues Unabated
Tether emphasized in its statement that the increase in the number of users is accelerating with each passing quarter. The average growth rate in the number of users over the past four quarters has been 9 percent. This growth was recorded predominantly through on-chain wallets and accounts. On-chain users USDTIt consists of people who transfer money to their personal wallets or deposit it to their accounts on central platforms.
In addition, off-chain users also have a significant share, but the number of these users is known only by central platforms. Therefore, it was included in the calculation by Tether.
From Which Platforms Do New Users Come From?
USDT more than one blockchain The fact that it can be used on the network played a key role in this growth. for now tron, BNB Chain and Ethereum 
$2,614 It is among the networks where USDT is most preferred. However, the fastest growth is Ethereum’s Layer 2 solutions. Optimism, Arbitrum And polygonIt happened in . Besides, Avalanche 
$27 A significant increase in users was also observed in networks such as and Solana.
Also Tether recently TON And celo It was also launched on their blockchain. In particular, TON attracted attention by reaching 3.3 million new users in just six months.
This rapid increase in the use of Tether’s USDT continues thanks to its structure that offers ease of use on both centralized and decentralized platforms. The fact that users see USDT as a store of value and means of payment on a global scale is among the most important factors accelerating this increase.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
