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Stablecoin Issuer Tether Details ‘Extraordinary’ USDT Portfolio Growth Driven by Small Holders

Published

11 months ago

December 9, 2024

The corporate behind USDT says the expansion of crypto’s largest stablecoin by market cap is being fueled by sharks and minnows fairly than whales.

In a newly launched Tether Insights publicationUSDT writer Tether highlights the “extraordinary” progress of USDT in crypto wallets.

“The expansion of USDT portfolios has been extraordinary, up 71% final yr and 129% the yr earlier than, pushed primarily by portfolios underneath $1,000. This improve accelerated after the collapse of FTX, when customers selected to carry their USDT themselves fairly than protecting it on centralized platforms.

USDT’s momentum continued even after rivals like USDC and DAI broke away through the Silicon Valley Financial institution collapse, cementing its place because the stablecoin of selection for customers all over the world.”

In accordance with Tether, the sheer variety of low-balance wallets containing USDT proves the reliability and practicality of the stablecoin.

“The prevalence of low-balance wallets is a characteristic, not a bug, and highlights the accessibility of USDT to customers who would possibly in any other case be unbanked. Moreover, the 29% reactivation price of those wallets reveals that many customers are returning to holding USDT after they have the funds, underscoring its reliability as a monetary instrument for these with restricted entry to conventional banking.”

The biggest stablecoin by market capitalization at present has a market capitalization of $1.38 billion.

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