Tether, a stablecoin valued at $120 billion, is seeing changes in its usage patterns due to increased scrutiny from U.S. regulators.

According to data from Chainalysis, there has been a significant increase in the activation of digital wallets containing Tether, particularly between 9 a.m. and 2 p.m. Coordinated Universal Time (UTC). This timeframe corresponds to late morning and afternoon in regions like Moscow, Tehran, Kigali, and Istanbul.

The data suggests that Tether is becoming more popular in European, Middle Eastern, and African markets, potentially as users look for alternatives amidst growing regulatory pressures in the United States. The rising adoption of Tether in these regions reflects a broader trend in the use of stablecoins, as investors navigate changing regulatory landscapes in the cryptocurrency industry.