USDT Volume Hit A Record $4.4 Trillion In Q4 2025, Tether Report Shows
A new report from Tether exhibits USDT noticed development in a number of metrics over the last quarter of 2025, together with a brand new document in switch quantity.
Tether’s USDT Set A New Transfer Volume Record In Q4 2025
USDT issuer Tether has released its market report for Q4 2025 and it exhibits a number of new information for the most important stablecoin by market cap. First, the variety of USDT customers elevated by 35.2 million in the course of the interval, taking the full to 534.5 million.
In this depend, Tether has included each the customers who’ve acquired and used USDT for at the least 24 hours on-chain, in addition to the estimates of customers which have acquired the stablecoin on centralized platforms like exchanges.
From the above chart, it’s seen that Q4 2025 was the eighth consecutive quarter wherein Tether’s stablecoin noticed development of greater than 30 million customers. In phrases of energetic customers, the quarter set a brand new all-time high (ATH) with a median of 24.8 million customers receiving USDT at the least as soon as inside a 30-day rolling window. “This accounts for 68.4% of all stablecoin month-to-month energetic customers,” famous the report.
On-chain switch quantity additionally set a brand new ATH on this quarter, hitting a price of $4.4 trillion following a leap of $248.6 billion.
As displayed within the chart, the USDT switch quantity stood at simply $1.7 trillion in Q3 2024, so the sharp leap to $4.4 trillion since then signifies demand for utilizing the stablecoin has seen a notable increase. “Of this $4.4T quarterly complete, $2.8T (63.6%) was in transactions the place USD₮ was the one asset transferred, and $1.6T (36.4%) was in transactions the place a number of belongings had been transferred (sometimes in DeFi swaps),” stated the report.
There has additionally been development in transaction demand among the many retail traders, because the variety of transfers involving the stablecoin jumped by $313.1 million in Q4 to a brand new ATH of two.2 billion. 88.2% of those transactions concerned a sum lower than $1,000.
The capital invested within the stablecoin itself additionally noticed a rise in the course of the quarter, with the market cap hitting $187.3 billion after inflows of $12.4 billion.
The development within the USDT market cap occurred even if the broader cryptocurrency market noticed a bearish transition in October. That stated, the downturn nonetheless affected the token to some extent as earlier than the market slowdown, its month-to-month market cap development charge was sitting at 4.9%, which declined within the aftermath of the liquidation squeeze of October tenth.
Overall, between October tenth and at this time, USDT has been among the many extra resilient cryptocurrencies, being up 3.5% whereas the mixed sector has misplaced greater than a 3rd of its market cap. In the identical interval, USDC, the second largest stablecoin, has seen a drop of two.6%.
Bitcoin Price
At the time of writing, Bitcoin is buying and selling round $65,800, down greater than 9% over the past 24 hours.
