Tether’s USDt dollar-pegged Stablecoin expanded to an unprecedented $187.3 billion in market capitalization by the fourth quarter, 2025. The broader cryptomarket was also falling following the liquidation cascade of October.
The latest quarterly reportUSDt) is the USDtUSDTThe market capitalization of ) grew by $12,4 billion in the fourth quarter.
USDt is gaining ground on its competitors, as data shows.
Then, major liquidation event on Oct. 10Circle USDC’s market cap (USDCThe second largest stablecoin (USDe) fluctuated during the remainder of Q4 and closed out the quarter largely unchanged. Ethena’s synthetic dollar (USDe)USDECoinMarketCap ranked it third in stablecoins. dropped by 57%.
Related: Tether releases open-source operating system for Bitcoin mining
The USDt Onchain Activity has reached new records
Also, Onchain activity reached new heights. USDt wallets, which hold almost 70% of stablecoins, now have an average of 24.8 millions active USDt wallets per month. The quarterly transfer volume jumped to $4.4 trillion while onchain transactions increased to 2.2 million.
Tether’s total reserves were $192.9bn at the end Q4, an increase of $11.7bn from the prior quarter. Net equity was $6.3bn. The exposure of Tether to US Treasurys increased to $141.6 billionThe country is amongst the top holders of Bitcoin globally, and even ahead of several sovereign states.
Data also indicates a stable base of users. Around two thirds of USDt is stored in centralized exchanges and savings wallets. The remaining one-third supports payments, remittances, and decentralized financial activities.
USDt also is the most common stablecoin used in illegal transfers. Bitrace reported that $649 billion USDt-based Tron stablecoins accounted for 70% of this activity.
Tether launched collaborative programs with TRM Labs, Tron and other companies to reduce illicit usage. monitor and freeze illicit funds.
Related: Tether CEO denies the company ever planned $20B raise
Tether launches GENIUS Act–compliant stablecoin
Tether began in January. launched USAtThe dollar-pegged US stablecoin was built for the US markets. USAt, a stablecoin issued by Anchorage Digital Bank is compliant with the US GENIUS ActInitial Ethereum supply of $10 Million
Tether and opera were the focus of Monday’s activities partnered to broaden access USDt and Tether gold (USDt) can be used to integrate digital payment in emerging markets.XAUTOpera MiniPay wallet.
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Source: cointelegraph.com

