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
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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Statista. (June 24, 2022). 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 [Graph]. In Statista. Retrieved November 13, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1316567/usd-backed-stablecoin-active-addresses/
Statista. "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." Chart. June 24, 2022. Statista. Accessed November 13, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1316567/usd-backed-stablecoin-active-addresses/
Statista. (2022). 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. Statista. Statista Inc.. Accessed: November 13, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1316567/usd-backed-stablecoin-active-addresses/
Statista. "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." Statista, Statista Inc., 24 Jun 2022, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1316567/usd-backed-stablecoin-active-addresses/
Statista, 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 Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1316567/usd-backed-stablecoin-active-addresses/ (last visited November 13, 2024)
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 [Graph], Statista, June 24, 2022. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1316567/usd-backed-stablecoin-active-addresses/
