Stablecoin Issuer Tether Details ‘Extraordinary’ Growth of USDT Wallets Driven by Small Holders – The Daily Hodl


Stablecoin Issuer Tether Details ‘Extraordinary’ Growth of USDT Wallets Driven by Small Holders – The Daily Hodl


The firm behind USDT says that the growth of crypto’s largest stablecoin by market cap has been fueled by sharks and minnows rather than whales.

In a newly released Tether Insights publication, USDT-issuer Tether highlights the “extraordinary” growth of USDT in crypto wallets.

“The growth of USDT wallets has been extraordinary, increasing 71% in the past year and 129% the year before, driven primarily by wallets holding less than $1,000. This surge accelerated after the collapse of FTX when users chose to self-custody their USDT rather than keep it on centralized platforms.

USDT’s momentum continued even after competitors like USDC and DAI de-pegged during the Silicon Valley Bank collapse, reinforcing its position as the stablecoin of choice for users worldwide.”

Source: Tether

According to Tether, the sheer quantity of low-balance wallets holding USDT proves the stablecoin’s reliability and practical usefulness.

“The prevalence of low-balance wallets is a feature, not a bug, highlighting USDT’s accessibility to users who might otherwise be unbanked. Moreover, the 29% reactivation rate of these wallets demonstrates that many users return to holding USDT whenever they have the funds, underscoring its reliability as a financial tool for those with limited access to traditional banking.”

The largest stablecoin by market cap currently boasts a $1.38 billion market cap.

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