TRON’s USDT Hits $87.9B as Q2 Transfers Reach $2.1T and Fees Jump 15.9%

Key Takeaways:

• The total stablecoin supply on TRON hit a new high of $89.2B, spearheaded by USDT.
• The network facilitated USDT transacting totaling $2.1T in Q2.
• TRX Supply continued to be inflationary, and fees grew by 15.9%, to $699.4M.

User Score

8.7

TRON continued its impressive momentum, reaching new records for settlement and network activity during the quarter. In addition to less DeFi and DeX activity, Messari’s State of TRON Q2 2026 report revealed greater institutional access.

The cap of TRON’s stablecoins increased 4.1% QoQ to end Q2 at $89.2 billion. Stabilized token USDT was still overwhelmingly preferred as 98.5% of the network’s stablecoins are still in its hands.

Circulating USDT reached $87.9 billion, making TRON the largest USDT host chain ahead of Ethereum at $78.7 billion and BNB Chain at $9.2 billion.

The activity of USDT also increased. During Q2, TRON processed $2.1 trillion in USDT transactions and the average daily transaction volume rose 4.3% to $22.8 billion. On 20th May, the USDT’s supply peaked at an all-time high of $89 billion.

The figure points to TRON remaining a significant network for USDT transactions, especially for those looking for moderately priced transfers.

Read More: TRON Hits $167B Stablecoin Volume as Daily Transactions Surge Past 10.6M

TRON’s broader usage also reached new highs. Average daily transactions were up 8.7% QoQ to 11.8, totaling approximately 1.08 billion transactions in all, in the quarter. The network has already recorded a record 14.6 million transaction flow on 15 June.

The average daily active addresses increased by 11.7% to 3.6 million, a 4.5% increase after a significant drop in Q1.

Higher activity helped TRON’s fee market recover after several quarters of pressure.

The total network fees rose by 15.9% QoQ to USD 699.4 million, the first quarterly rise since the fee reduction in August 2025. Fees also rose 2.1% in TRX terms to 2.10 billion TRX.

The average transaction cost was $0.65, or 5.4% higher. But more usage did not mean more deflationary value of TRX. Circulating supply rose by 87 million TRX or 0.1%, making it the third quarter of the third inflationary trend.

Read More: TRON Raises $26M in 30 Days to Top Blockchain Revenue Rankings

In addition, a number of events regarding regulated financial products and trading venues occurred in TRON.

Securitize launched its Hamilton Lane tokenized Senior Credit Opportunities Fund on TRON in June, launching the first Securitized asset on the TRON network. The fund began with just about $4.3 million in assets under management.

TRX has also secured more market access avenues with Bitnomial, adding spot TRX trading, and OKX Europe, introducing MiFID-regulated TRX expiry perpetuals. Binance.US re-instated TRX trading and Grayscale added TRX to its list of assets under consideration for the Q2.

Not all metrics improved. TRON’s DeFi TVL declined 1.9% to $4.4 billion, while average daily DEX volume fell 21.7% to $49.3 million, marking a fourth consecutive quarterly decline.

JustLend remained the largest DeFi protocol, although its TVL dropped 10.5% to $2.9 billion. USDD moved in the opposite direction, with TVL rising 25.5% to $1.2 billion.

Alongside the stablecoin growth of their stable products, TRON also expanded its infrastructure by launching post-quantum signature technology on their testnet Nile and developed its $1 billion AI Fund strategy.

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