USDT on-chain transfers surged to a record $4.4 trillion in Q4 2025, underscoring sustained demand for the stablecoin as a medium of exchange and store of value. During the quarter, USDT’s market capitalization rose to $187.3 billion, up $12.4 billion from the previous period. The user base expanded by more than 30 million to 534.5 million wallets, while on-chain holders reached 139.1 million, representing over 70% of all stablecoin wallets. Monthly active wallets averaged 24.8 million, accounting for 68% of stablecoin activity.
Tether’s reserves stood at $192.9 billion, with substantial holdings in U.S. Treasuries, Bitcoin, and gold. The growth is attributed to USDT’s dual role as a store of value and a medium of exchange, sustaining adoption even as broader crypto markets contract.
Leave a Reply