TRON Sets Record USDT Transfer Volume Amid Declining DeFi Pool

TRON's USDT transfer volume soared to $2.1 trillion in the second quarter, setting a new record. The network cleared this massive amount despite its decentralized finance (DeFi) pool shrinking by 1.9% and exchange trading volumes declining for a fourth consecutive quarter.

The supply of USDT on TRON reached $87.9 billion at the end of June, surpassing Ethereum's $78.7 billion. The total stablecoin supply on the network hit a record $89.2 billion, with Tether accounting for 98.5% of this market share.

On the other hand, TRON's DeFi pool saw a decline in value locked, dropping to $4.4 billion. JustLend, the largest protocol on the chain, experienced a 10.5% decrease in its share of network value locked, falling to $2.9 billion.

The average daily decentralized exchange volume fell by 21.7%, marking a fourth consecutive quarterly decline. This downturn is attributed to a broader 'cooldown in onchain spot trading' rather than specific issues with the TRON chain.