USDT activity on Ethereum jumped 400% to a record $580.9 billion in transfers

USDT’s utility on Ethereum is at an all-time ￰0￱ key metrics have increased by 400% in the past two ￰1￱ Terminal shared some of the metrics on ￰2￱ achieved a monthly transfer volume of $580.9 billion on the Ethererun ￰3￱ total transfer count is 12.5 ￰4￱ in other words, traders have exchanged USD on Ethereum 12.5 million ￰5￱ proved once again that it’s the master chain for DeFi ￰6￱ the biggest stablecoin in the crypto market, USDT powers DeFi transactions and caters to whales and ￰7￱ dominates stablecoins on Ethereum USDT has a market cap of $180.64 billion based on data from ￰8￱ total amount of USDT coins circulating at the moment is $180.122 billion, while the unreleased amount of coins is $6.825 ￰9￱ has 44.46% o f to tal USDT coins circulating in all ￰10￱ amounts to 80.081 billion USDT coins available on-chain right ￰11￱ ranks second with 77.322 billion ￰12￱ Smart Chain (BSC) follows in third place with 8.982 billion USDT, far behind the top two ￰13￱ (XPL) ranks fourth with 5.02 billion, and Solana takes fifth place with 2.335 billion USDT in ￰14￱ has minted $1 billion USDT coins on Ethereum, less than 24 hours ￰15￱ fresh liquidity of stablecoins in the crypto market usually indicates preparation for upcoming demand, which simply means more buying ￰16￱ usage on Ethereum is at an all-time high, with key metrics up ~400% from Sep '23 ￰17￱ transfer volume in September was $580.9 billion & transfer count 12.5 ￰18￱ a ~$500 billion valuation, @Tether_to is the most valuable business building on@ethereum.

pic. twitter. com/Z83e68NO8C — Token Terminal 📊 (@tokenterminal) October 13, 2025 Tether survives the last market crash Tether stayed resilient during Friday’s market ￰19￱ other coins that lost their peg, Tether’s USDT remained stable and ready to serve traders on both DEXs and CEXs, absorbing massive market ￰20￱ reported earlier that Ethena’s synthetic dollar, USDe, had depegged on Binance, falling to $0.66. Paolo Ardoino , fo under of Tether, took to X and wrote about the recent market ￰21￱ said, “USDT is the best collateral for derivatives and margin trading.” Ardoino also took a jab at poor liquidity, saying, “If you use as collateral low liquidity tokens, some bananas, a horse, 3 olives and a chewed bubblegum, then brace yourself when market moves.” Tether’s USDT is backed by US dollars, US treasury notes, and other reserve assets such as Bitcoin, gold, and secured ￰22￱ versatility in its backing gives USDT an advantage over other ￰23￱ revealed earlier that Tether uses part of its revenue to purchase Bitcoin and ￰24￱ strategy strengthens Tether’s reserves and diversifies its balance ￰25￱ users can transfer USDT without paying any fees, Tether still earns money in other ￰26￱ collects fees for minting and redeeming USDT coins, receives payments from exchange partners, and charges small fees for using USDT on some blockchains, such as Tron.

Tether’s revenue comes from investing in reserves that back its stablecoin ￰27￱ year, the company reported a profit of $13 ￰28￱ profited $5.7 billion in the first half of this year. Don’t just read crypto ￰29￱ ￰30￱ to our newsletter. It's free .