en.bitcoinsistemi.com
$USDT, the world’s largest stablecoin, recorded record user growth in the fourth quarter of 2025 despite the severe market crash in October 2025.
According to Tether’s $USDT market report, the stablecoin’s market capitalization reached a new peak of $187.3 billion. $USDT’s market capitalization increased by $12.4 billion during the quarter.
The report also highlighted that user adoption continued unabated. According to the report, $USDT added an estimated 35.2 million new users in the fourth quarter, bringing its total user base to 534.5 million. This marked the eighth consecutive quarter in which $USDT gained over 30 million new users.
The number of on-chain wallet holders increased by 14.7 million during the quarter, reaching 139.1 million. $USDT wallets accounted for 70.7 percent of all stablecoin wallets.
Tether also estimated that the number of users holding $USDT on centralized platforms exceeded 100 million. Monthly active on-chain users reached an all-time high, averaging 24.8 million per quarter.
Meanwhile, Tether’s total reserves also increased by $11.7 billion, reaching $192.9 billion. These reserves include 96,184 BTC, 127.5 metric tons of gold, and $141.6 billion in US Treasury bonds.
Tether stated that $USDT’s growth is not solely dependent on the cryptocurrency market, but also on users’ preference for $USDT as both a store of value and a means of transfer. The report noted that while the total cryptocurrency market capitalization declined by more than a third after the liquidation wave on October 10, 2025, $USDT grew by 3.5 percent until February 1, 2026.
*This is not investment advice.