USD-backed stablecoin user count 2022

Tether (UST) had many more users - as measured by addresses that actively send or receive such coins on blockchains - than other USD-backed stablecoins. The metric of active addresses is the closest thing available in the cryptocurrency world to active users. Within the blockchain, addresses are assigned to digital wallets so as to reliably ensure a transaction. An address can become active only within a set period of time, essentially allowing a user to make transactions. Successful transactions are then recorded and made visible on the blockchain with that address - although one cannot re-trace the exact location or who is the owner of that specific address.

Number of unique addresses that were active on the blockchain network either as a sender or receiver of selected USD-backed stablecoin on June 23, 2022

Characteristic	Active address count
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Release date

June 2022

More information

Region

Worldwide

Survey time period

June 23, 2022

Special properties

The number for TrueUSD (TUSD) was measured on June 10, 2022 - the latest date available

Supplementary notes

* FRAX is only partially a USD-backed stablecoin as it also uses an algorithm for its backing. It has nevertheless been added to this statistic, due to its market size.

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