TLDR
- TRON processed $2.1 trillion in USDT transfers during Q2 2026 as stablecoin supply hit record levels.
- USDT supply ended Q2 at $87.9 billion, giving TRON the largest circulating stablecoin balance of any blockchain.
- Network fees rose 15.9% for the quarter to $699.4 million, reversing declines seen after the 2025 fee cut.
- Bitnomial launched regulated US TRX futures in July after adding spot trading earlier in the quarter.
- Canary Capital amended its staked TRX ETF filing in July, targeting Cboe BZX under the ticker TRXS.
TRON processed $2.1 trillion in USDT transfers during the second quarter of 2026. This came from a Messari report released on August 10.
The report shows TRON’s stablecoin market grew to a record $89.2 billion. Most of that value moved through USDT.
USDT made up $87.9 billion of the total. That gave TRON the largest stablecoin balance of any blockchain, ahead of Ethereum.
Ethereum ended the quarter with $78.7 billion in USDT. TRON stayed ahead by a wide margin.
Average daily USDT transfers rose 4.3% from the prior quarter. Daily volume reached $22.8 billion.
Total stablecoin value across all networks grew 4.1% during the same period. TRON held 47.6% of all tracked USDT supply by the end of June.
USDT Supply Keeps Climbing
Growth did not stop when the quarter ended. TRON’s own tracker showed USDT supply passing $90 billion on July 9.
Network activity also stayed high. TRONSCAN reports about 12.07 million daily transactions over the past 30 days.
Lifetime transactions on the network passed 15 billion in early August. Circulating USDT stayed above $90 billion at that time.
TRON generated $699.4 million in network fees during the quarter. That was up 15.9% and marked the first fee increase since a governance change cut prices in August 2025.
Average transaction cost rose to $0.65. TRX supply kept growing instead of shrinking, adding about 87 million tokens to reach 94.85 billion.
Total staked TRX fell slightly to 45.7 billion. The staking rate dropped to 48.2%.
US Access Expands For TRX
Binance.US brought back TRX trading on April 16. This reversed a 2023 removal and added new trading pairs.
Bitnomial then added spot TRX trading before launching regulated TRX futures on July 27. The company said this history could support a future spot TRX product.
Anchorage Digital opened TRX staking for institutional clients in July. Customers can now stake TRX while keeping it in regulated custody.
Canary Capital updated its plan for a staked TRX fund. The July filing named Cboe BZX as the exchange and TRXS as the ticker. The filing is still not final, and regulators must approve it before shares can be sold.
The US Treasury added 131 TRON addresses to a sanctions list on July 1. The list targeted accounts linked to ISIS K.
Tether froze all 131 addresses after the update. Those wallets had received more than $1.4 million since 2023.
TRON also released two software updates over the summer. The main update arrived July 15, followed by a smaller fix on July 31.
