Over 251,350 non-empty USDT wallets on Ethereum vanished in 11 days, marking one of the steepest declines in Tether holder activity in recent memory. Analytics firm Santiment flagged a particularly intense 48-hour window during which 72,841 addresses were closed. Ethereum still hosts approximately 13.46 million USDT holders, with a market cap around $96.1 billion on the network. Santiment interprets this contraction as a potential retail capitulation signal, a pattern that has historically preceded market rallies. Tether also burned $2.5 billion in USDT on the Ethereum network on July 7, 2026, its largest single-day reduction in six months.
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