Tether USDt

Tether has reported a new milestone for its <a href="https://crypto-economy.com/stablecoins/" rel="noopener noreferrer nofollow">stablecoin</a> USDT, with nearly 330 million wallets and blockchain accounts having received the cryptocurrency by the end of the third quarter of 2024.This substantial growth is attributed to the creation of 36.25 million new accounts during the quarter, further establishing USDT as a fundamental player in the cryptocurrency market. Tether noted that this growth reflects a quickened pace of adoption, with an average increase of 9% in users per quarter over the past year.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/949b5b48d89b461a91451e6a966e6ef1.jpg" />These figures exclude users who use USDT exclusively on centralized exchanges, suggesting the actual user base is even larger. Tether’s Head of Economics, Philip Gladwell, compared this vast user base to the population of the United States, showing the profound influence USDT is having on global financial activities.<h2 id="header-0">USDT’S IMPACT ON EMERGING MARKETS</h2>Paolo Ardoino, CEO of Tether, emphasized USDT’s impact in emerging markets, where it has become a popular digital alternative to the US dollar. Its continued growth showcases users’ confidence in its stability, particularly in regions with more volatile local currencies. USDT remains the market-leading stablecoin, with a market cap close to $120 billion and holding 69% of the stablecoin market share.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/21143919a4f84019b1b43719602a97ab.jpg" />In addition to its general expansion, USDT’s growth has been fueled by adoption on blockchain networks such as Ethereum and Tron. Notably, the highest growth over the past year has been on Ethereum Layer 2 networks like <a href="https://crypto-economy.com/optimism/" rel="noopener noreferrer nofollow">Optimism</a> and Arbitrum, which have significantly boosted USDT’s usage. Furthermore, its launch on networks such as TON and Celo has expanded its reach even further. The TON network, in particular, has experienced rapid growth, adding 3.3 million users in six months and processing over 4.5 million transactions within the last 30 days.

Tether Adoption Skyrockets

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