Tether Q4 2025 Report: USDT Market Cap Nears $190 Billion, Multiple Indicators Hit Record Highs
Tether's Q4 2025 report highlights record-breaking performance for USDT, with its market capitalization reaching $187.3 billion. Despite a market-wide slowdown following a crypto liquidation event on October 10, USDT grew by 3.5% in market cap during the subsequent period, while other major stablecoins declined.
Key achievements include an eighth consecutive quarter of over 30 million new users, bringing the total user base to 534.5 million. On-chain wallet holders saw the largest quarterly increase, reaching 139.1 million. Monthly active on-chain users hit a record 24.8 million, and both on-chain transfer volume and value reached all-time highs, with quarterly transfers totaling $4.4 trillion.
USDT’s reserve assets grew to $192.9 billion, including increased holdings in U.S. Treasuries, Bitcoin, and gold. Its role extends beyond crypto trading, with strong adoption for savings and transactions. USDT dominates stablecoin usage, accounting for 65.9% of single-asset transfer value and 75% of savings-oriented wallets among all stablecoins.
marsbit02/05 12:06