Tether's USDT stablecoin is adding more than 30 million new wallets every quarter, CEO Paolo Ardoino said. The token's market capitalization is also hovering near record levels, signaling continued demand for the digital dollar-pegged asset.
That growth rate puts USDT well ahead of most other digital currencies in terms of user base expansion. The wallet count includes both new users and existing users setting up additional wallets, but the figures underscore the stablecoin's dominance in the crypto ecosystem.
Wallet Growth Accelerates
Ardoino shared the data in a recent update, noting that the quarterly additions have been consistent. He did not provide a geographic breakdown or wallet type split, but the overall trend points to rising adoption. The 30 million figure represents a clear uptick from earlier periods, though the company has not released year-over-year comparisons.
Market Cap Near All-Time High
USDT's market capitalization has been hovering near its all-time high. The stablecoin has held its place as the most widely used digital dollar token despite competition from offerings like USDC and DAI. The near-record market cap suggests that demand for stablecoins remains strong even as the broader crypto market moves through volatile patches.
What the Numbers Mean
The addition of 30 million wallets per quarter implies that USDT is being used for trading, remittances, and decentralized finance applications. The wallet count doesn't translate directly to active users, but it provides a rough measure of the token's reach. Tether has faced scrutiny over its reserves and transparency in the past, but the company continues to expand its user base.
Ardoino's comments offer the latest snapshot of USDT's growth. The company has not said when it will publish the next wallet count update, but the current pace suggests the stablecoin's adoption is far from slowing down.
