TRON’s Stablecoin Supply Hits Record $87.9 Billion in Second Quarter

TRON closed the second quarter with $87.9 billion in circulating USDT, surpassing Ethereum’s stablecoin supply while processing $2.1 trillion in transfers over the period. USDT now makes up the vast majority of TRON’s total stablecoin market, which grew to a record $89.2 billion. Daily transfer volume also returned to growth after a slowdown earlier in the year.

Network Usage and Fees Climb

TRON recorded record network activity, with daily transactions and active addresses both rising sharply during the quarter, including a single-day peak of 14.6 million transactions in June. This increased usage helped reverse a decline in network fees that began after a governance change lowered energy costs the previous year. However, activity was uneven elsewhere, with DeFi total value locked slipping slightly and decentralized exchange volume falling for a fourth straight quarter.

Institutional Interest Expands

Institutional access to TRON grew during the quarter, highlighted by the launch of a tokenized credit fund on the network and TRX being added to a major asset manager’s list of assets under consideration. The token also gained broader market access through new spot trading, regulated derivatives products, and reinstated trading support at a major US exchange, with institutional staking and custody options expanding further shortly after the quarter closed.