Tether Nears $1.5 Billion Revenue Benchmark While Ethereum Struggles to Surpass $200 Million

As of April 2025, Tether (USDT) is on the verge of achieving a significant financial milestone, with its revenue approaching $1.5 billion. This growth highlights the stablecoin’s dominant position in the cryptocurrency market. In contrast, Ethereum (ETH), despite its technological advancements and widespread adoption in decentralized applications, has seen its revenue remain below the $200 million mark. This disparity underscores the differing trajectories of stablecoins and smart contract platforms in the current crypto economic landscape. Analysts attribute Tether’s success to its liquidity and utility in trading pairs, while Ethereum’s revenue challenges may reflect scalability costs and network fee dynamics.

• Tether has earned up to $1.46 billion so far and is getting close to surpassing $1.5 billion soon.
• In 2024, the company’s total equity exceeded $20 billion due to the rising adoption of USDT, strong transaction volumes, and other smart investments.

Tether’s earnings have significantly grown along with the rising value of its stablecoin. The total amount of USDT that is currently in use has risen to more than $144 billion, compared to the $109 billion it was this time last year.

Tether (USDT) has earned about $1.46 billion so far in 2025, according to TokenTerminal, and is expected to pass the $1.5 billion mark soon. This shows strong growth compared to its competitors in the crypto space.

According to the data, the platform’s income is much higher than other blockchain platforms like Tron, Circle, Solana, and Ethereum. Ethereum, which was once part of the top earners, has only brought in $157 million this year. Circle, the company behind USDC, made $620 million as it plans to go public, while Solana has earned $159 million, helped by the rise of meme tokens. Tron is the closest to reaching $1 billion.

The rise in Tether’s income could be linked to its wide use on global exchanges and the growing demand in developing countries. In contrast, Ethereum is losing revenue as more activity shifts to cheaper layer-2 networks, even though it still leads in smart contract apps.

Tether’s Continuous Growth and Strategic Expansion

In 2024, the last quarter ended with the platform’s yearly profit topping $13 billion. The company’s total equity also ROSE above $20 billion, thanks to the smart moves taken in different areas like clean energy, crypto mining, artificial intelligence, mobile networks, and learning.

Tether has kept growing in 2025 as more users see and turn to stablecoins for more safety and ease of use. Visa data shows that in April alone, Tether’s volume reached $266 billion, with total transactions for the year already above $1.5 trillion.