The stablecoin Tether (USDT) has shown a significant increase in user numbers, reaching 400 million, driving its market capitalization to $144.1 billion.
Tether’s 14% Surge in Five Months
Tether's user base expanded from 350 million in October 2024 to over 400 million by March 27, 2025, marking a 14% increase. These figures were shared by Tether's CEO Paolo Ardoino. The company's stablecoin, USDT, now boasts a market cap of $144.1 billion, cementing its status as the largest in the sector.
Circle Faces Pressure in Asia
Circle, Tether’s main rival, is ramping up efforts to expand in Asia. However, with Tether's 400 million users and 14% growth since October 2024, Circle finds itself playing catch-up. Tether's market cap significantly surpasses Circle’s, adding pressure on the latter.
A Market in Motion
Tether's user growth highlights its grip on the stablecoin market. With a $144.1 billion market cap and a 50 million user spike, it is outpacing competitors like Circle, which is doubling down in Asia.
Tether's expanding user base and current market capitalization underscore its significant impact on the stablecoin market, while competition with Circle intensifies.
