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In the final quarter of 2024, <a href="https://yellow.com/asset/usdt">USDT</a> established itself as a premier digital asset, amassing an impressive 109 million on-chain wallets. This dwarfs <a href="https://yellow.com/asset/btc">Bitcoin</a>'s count and approaches <a href="https://yellow.com/asset/eth">Ethereum</a>'s 128 million. Beyond direct blockchain activity, 86 million accounts on centralized exchanges are noted to have received USDT deposits, emphasizing its broad appeal. 
'Tether Insights,' according to its latest analysis, unveiled that exchange sites logged 4.5 billion visits in the initial three quarters of 2024. Nearly half are from emerging markets, showcasing a strong reliance on USDT within these regions' ecosystems. Aggregating on-chain and centralized platform data, experts estimate between one-third and half of the 330 million users interacting with USDT retain holdings today. 
Wallet activity often renews as new transactions emerge, particularly notable in recurring payment scenarios. A significant 29% of wallets with minimal balances under one cent have been active again. While over half currently hold less than one cent of USDT, such low balances are common in the digital asset space, suggesting potential future activity. Including 109 million active and 56 million likely reactivated wallets, the total count reaches 165 million, not accounting for millions more on centralized exchanges. 
Approximately 18.7 million wallets contain between one cent and one dollar of USDT. Though modest, these amounts are significant for users in emerging markets. Many use USDT mainly for transactions rather than savings. As the World Bank notes, 4.5 billion people, representing 59% of the global populace, subsist on less than $10 daily. "It's evident that stablecoins play a crucial role in economic development, enabling unbanked individuals to access financial systems," Tether highlights. 
USDT maintains its lead in the stablecoin domain, commanding four times the active wallets compared to competitors. As of November 1st, 54 million wallets with balances over one cent were linked to USDT, far exceeding the 13.8 million for all other stablecoins combined. This insight emerges from a review of 25 stablecoins across ten blockchains, covering 97.5% of the total stablecoin market. 
The swell in USDT wallet adoption, climbing 71% in 2023 and 129% the year before, points to a significant trend. Smaller wallets under $1,000 drive this growth, reflecting a gravitation towards self-custody in the wake of FTX's failure. USDT's traction remains robust even amid market upheavals like the <a href="https://yellow.com/asset/usdc">USDC</a> and DAI de-pegging during Silicon Valley Bank's collapse. Other stablecoins encounter growth barriers, evidenced by only a 3% rise in wallet numbers over the past year. 
USDC has made modest gains on networks like <a href="https://yellow.com/asset/sol">Solana</a> and Base. Nonetheless, USDT still holds a commanding 30% wallet share on Solana.

USDT User Base Explodes, Rivals Bitcoin and Ethereum

Yellow News

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