TechFlow News: On February 5, according to Tether’s Q4 report, USDT achieved multiple all-time highs in Q4 2025, with a market capitalization of $187.3 billion. It marked its eighth consecutive quarter of user growth exceeding 30 million, and quarterly growth in on-chain wallet holders also reached an all-time high. The report states that USDT’s reserves increased to $192.9 billion, including 96,184 bitcoins and 127.5 tons of gold, while its U.S. Treasury holdings rose to $141.6 billion.
Despite a wave of liquidations across the crypto market on October 10, 2025, USDT still posted a 3.5% growth, whereas the second- and third-largest stablecoins declined by 2.6% and 57%, respectively. Data shows users increasingly prefer USDT as both a store of value and medium of exchange—accounting for 75% of all stablecoin savings wallets and 65.9% of single-asset transaction value. On-chain transaction volume for Q4 reached $4.4 trillion, setting a new all-time high.
