Tether Surpasses 534 Million Users as Growth Accelerates
Beincrypto reports that Tether’s USDT has surpassed 534 million users, adding more than 35 million in Q4 2025 and marking the eighth consecutive quarter with over 30 million new users, even as the total crypto market capitalization has fallen by more than 30% since October 2025.
Tether’s market capitalization rose to $187.3 billion, up $12.4 billion in Q4, while total reserves expanded to $192.9 billion, including $141.6 billion in US Treasuries. The company also increased Bitcoin holdings to 96,184 BTC and gold reserves to 127.5 metric tons.
On‑chain metrics showed 139.1 million USDT holders, 24.8 million monthly active users, $4.4 trillion transferred on‑chain in Q4, and USDT accounting for 61.5% of spot trading volumes on centralized exchanges. The report notes that user estimates combine on‑chain wallets and approximations of exchange users, limiting independent verification.
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