19-7-2025 – Tether’s USDT has cemented its position as the dominant stablecoin, capturing 73% of all stablecoin activity while the broader market experiences explosive growth, according to new blockchain analytics data shared on social media platforms.
The stablecoin ecosystem has expanded dramatically over the past year, with active wallets jumping from 19.6 million to 30 million—a 50% increase driven largely by Tether’s global reach. USDT now sits in 165 million on-chain wallets, with millions more held on centralized exchanges. The token serves as the base currency for over 900 trading pairs across major platforms including KuCoin and MEXC, facilitating 65% of all stablecoin trades.
Tether’s geographic penetration has been particularly strong in Asia, where the company estimates USDT represents approximately 45% of global trading volume. The stablecoin has gained traction in regions with unstable local currencies or underdeveloped banking infrastructure, positioning itself as a digital alternative to traditional dollar holdings. High-volume trading pairs like USDT/BTC and USDT/ETH account for over 35% of worldwide crypto trading activity.
Despite its market leadership, Tether continues navigating regulatory challenges stemming from past transparency concerns. The company settled with the U.S. Commodity Futures Trading Commission in 2021 over reserve backing claims, prompting enhanced disclosure practices. Tether now publishes quarterly attestation reports and holds approximately $120 billion in U.S. Treasuries and related instruments, maintaining $5.6 billion in additional reserves.
Regulatory pressure is intensifying as proposed legislation like the STABLE Act seeks stricter oversight of stablecoin issuers. While competitors Circle (USDC) and MakerDAO (DAI) continue gaining market share, neither has approached Tether’s scale or trading utility.
