Tether, the issuer of the leading stablecoin USDT, reported record user acquisition and robust growth across its platform during the fourth quarter of the year, a period marked by extreme volatility and major market shocks, including the collapse of the FTX exchange.
While the broader cryptocurrency market experienced significant declines in asset values and investor confidence, data suggests that USDT’s user base expanded at an unprecedented rate. This counterintuitive growth highlights USDT’s critical role as a safe harbor and liquidity mechanism during periods of extreme uncertainty.
Analysts attribute the surge primarily to two factors: first, traders often convert volatile crypto assets (like Bitcoin or Ether) into stablecoins when market conditions deteriorate, using USDT as the primary stable exit ramp. Second, Tether has significantly expanded its utility in emerging markets, where it is increasingly used for cross-border payments and remittances, offering a stable dollar-pegged alternative to local fiat currencies facing inflation.
Tether’s Q4 attestations also confirmed strong reserve backing and increased circulation, solidifying its dominant position in the stablecoin landscape. This performance confirms that market turbulence, rather than hindering adoption, sometimes accelerates the flight to established, highly liquid stable assets like USDT.
Source: Tether USDT posts record user growth in Q4 despite crypto market shock
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