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USDT's user base is truly impressive. Tether's CEO mentioned in recent statements that over 550 million people trust USDT, and this number also caught my attention. Especially since it is designed as a digital dollar in developing markets, it has become a very important tool for people who do not have access to traditional banking systems.
One thing caught my eye: the level of centralization in USDT appears to be much lower compared to other stablecoins. Having less than 5% share held by the largest senders, whereas competing stablecoins are controlled by a single sender with around 25%, is quite different. This actually explains why USDT is so widespread.
A distributed structure means a more reliable system. USDT's organization in this way probably gives users more confidence. This is really an interesting dynamic.