X reached 132 million daily actives, as its year-over-year growth declined by 15.2%.

To talk about "growth" being in decline is weird. The user base is in decline. X is shrinking.

Also it's hard to get reliable stats on x/twitters use because Musk and Co try to obscure it as much as possible after damaging the company.

If you search online there are claims.It's still reaching 250million a day but that is also a decline from previous claims. Also there are plenty of claims about declining market penetration - for example from 45% in the UK in 2020 to just 10% now and falling.

So this story is probably more a mix of growth in Threads (which is also somewhat dubious) and a decline in X/Twitter.