Tether Reports Record Growth in USDT Wallets in Q3

Tether has published a report on the adoption of the USDT stablecoin in the third quarter of this year. According to the data, the number of wallets holding USDT has surpassed 330 million, highlighting the rapid growth in the popularity of this digital asset. It is worth noting that the report does not account for users on centralized cryptocurrency exchanges, which Tether estimates to number in the tens of millions.

The average quarterly growth in the number of wallets with USDT over the past four periods was 9%, with the third quarter setting a record: 36.25 million new addresses holding stablecoins were registered. The company points out that these figures demonstrate the increasing influence of USDT in the global financial market, which often goes unnoticed.

The Impact of TON and Activity in Layer 2 Networks

Tether believes that one of the key factors behind the growth in the number of USDT wallets is the increased use of the stablecoin in Layer 2 networks and on the blockchain The Open Network (TON). Over the past six months, TON has contributed 3.3 million new addresses with USDT.

The steady increase in the stablecoin’s popularity can also be attributed to its flexibility and ease of use in a rapidly changing digital landscape. In response to these changes, Tether continues to explore new ways to efficiently manage assets and has recently begun studying the possibilities of lending to companies involved in commodity trading to optimize the allocation of its surplus operational profits.