Tether Q4 Report: USDT Market Cap Reaches $187.3 Billion, User and On-Chain Data Hit New Highs

SmartContractAuditor · 2026-02-05T01:56:31+00:00

Tether's Q4 2025 report shows that the USDT market cap increased by $12.4 billion to $187.3 billion, with on-chain user numbers and activity data reaching all-time highs. Approximately 35.2 million new users were added, bringing the total number of users to 534.5 million. Reserves increased by $11.7 billion, including Bitcoin and gold.

SmartContractAuditor

2026-02-05 01:56:31

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Odaily Planet Daily reports that Tether has released its Q4 2025 report, with several key USDT metrics hitting record highs. The report shows that USDT’s market cap grew by $12.4 billion in Q4, reaching $187.3 billion; on-chain active users, transfer counts, and transfer amounts all hit new all-time highs during the quarter, and the number of wallets holding USDT on-chain also recorded the largest single-quarter increase.

In terms of user base, USDT added approximately 35.2 million users in Q4 2025, with the total estimated users rising to 534.5 million, marking the eighth consecutive quarter of more than 30 million new users.

Regarding reserves, Tether’s total reserves increased by $11.7 billion in the fourth quarter, reaching $192.9 billion, with net assets around $6.3 billion. Reserve assets include 96,184 Bitcoin (an increase of 9,850 BTC during the quarter) and 127.5 metric tons of gold (an increase of 21.9 metric tons during the quarter). The report notes that USDT’s market cap grew by 4.9% month-over-month in October, but the growth slowed following the liquidation storm on October 10.

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