This analysis delves into the utilization of USDT (Tether) on the Near chain. Our objective is to understand the specific locations and reasons behind users' utilization of USDT on the Near chain.

To achieve this goal, I have established three key metrics and examined their trends over the last 7, 14, and 30 days. Furthermore, I have contemplated how prevailing market conditions or external research might influence the adoption, usage, and exchange of USDT within the NEAR ecosystem.

The following points will be covered in this analysis:

• USDT Swaps

• User Types

• USDT Usage

• USDT on CEXs

Let's begin with an overview of users, transactions, and the amount of USDT involved in these transactions on the Near chain. Over the past 30 days, there have been approximately 7.8K transactions involving USDT, with 1.3 unique wallets participating in these transactions.

Notably, the highest level of activity occurred during the middle of May and more recently, coinciding with a general market downturn.

In terms of the USDT amount, the peak usage observed was around 1 million USDT.

It is important to clarify that these activities only consider users' interactions with platforms on the Near chain. Transfers between users' wallets are not included in these figures.