TRON Sets New Record for USDT Settlement Volume Amid Declining DeFi Value

TRON's network continued to break records in Q2, settling $2.1 trillion in Tether (USDT) transfers and achieving the largest circulating balance of USDT on any blockchain.

The total supply of USDT on TRON closed at $87.9 billion, surpassing Ethereum with a 98.5% share of the market's stablecoins. The chain also saw an increase in average daily transfer volume, rising 4.3% to $22.8 billion for the quarter.

However, the DeFi economy on TRON took a step back, with total value locked across DeFi platforms falling 1.9% to $4.4 billion. JustLend, the largest protocol on the chain, dropped 10.5% to $2.9 billion, reducing its share of network value locked to 66.5%.

Network fees rose 15.9% to $699.4 million, marking the first increase since August 2025. The staking rate decreased to 48.2%, with total staked TRX slipping 0.9% to 45.7 billion.