Tether, the issuer of the USD₮ stablecoin, has reached a significant milestone, surpassing 350 million users globally in 2024. This marks a 24% surge in users over the past year, reflecting the rising demand for stablecoins in the digital economy.
Just a decade after its launch in 2014, Tether’s growth underscores its dominant position in the stablecoin market, further solidifying its role as a major player in the world of digital assets.
The surge in user numbers from 282 million in 2023 to 350 million in 2024 highlights a growing trend of stablecoin adoption worldwide.
Tether, now with a market capitalization of $119.6 billion according to CoinMarketCap, holds the highest value among stablecoins, far outpacing its competitors.
Tether’s increasing popularity goes hand in hand with its strategic investments.
With over $97 billion in U.S. Treasury holdings, Tether ranks among the top 20 buyers of U.S. Treasury bills, surpassing countries such as Germany and Australia.
This substantial financial backing not only strengthens USD₮ but also extends the global influence of the U.S. dollar, making Tether a key player in promoting the dollar’s role in the digital economy.
As part of its 10th anniversary celebration, Tether is set to release a documentary chronicling its journey and highlighting the impact of stablecoins on global financial systems.
Much of Tether’s user growth has occurred in recent years, suggesting that stablecoin adoption is accelerating, with a 2024 study estimating over 560 million cryptocurrency users worldwide.
