TRON Hits Record Stablecoin Settlement as DeFi Sector Shrinks

TRON (TRX) has achieved another milestone in its growth as a blockchain network. According to research firm Messari, TRON settled $2.1 trillion in Tether (USDT) transfers during the second quarter, setting a new quarterly record.

The network's stablecoin settlement is impressive, with USDT supply on TRON closing at $87.9 billion by June, surpassing Ethereum's $78.7 billion. Total stablecoins on TRON reached a record $89.2 billion in total, up 4.1% over the three months.

However, while TRON's stablecoin settlement is booming, its decentralized finance (DeFi) sector has experienced a decline. The network's total value locked across DeFi fell 1.9% to $4.4 billion, with JustLend, the largest protocol on the chain, dropping 10.5% to $2.9 billion.

The average daily decentralized exchange volume on TRON also declined by 21.7%, falling to $49.3 million for the quarter. This marks a fourth consecutive quarterly decline in trading activity on the network.