Tron Surpasses Ethereum in USDT Supply, Records $2.1T in Q2 Transfers

The Tron blockchain, founded by Justin Sun, reached new heights in Q2 with $87.9 billion in circulating USDT supply, surpassing Ethereum's total. This growth was driven by a record $2.1 trillion in USDT transfers during the quarter.

Average daily USDT transfer volume rose 4.3% to $22.8 billion after declining in Q1. The increase coincided with record network usage, with Tron averaging 11.8 million daily transactions and 3.6 million daily active addresses during the quarter.

The growth was not limited to USDT; Tron's stablecoin market reached a record $89.2 billion, growing 4.1% quarter-over-quarter. However, DeFi TVL slipped 1.9% to $4.4 billion, and average daily DEX volume fell 21.7% to $49.3 million.

TRX supply remained inflationary, with circulating supply increasing by 87 million tokens during the quarter as issuance continued to outpace burns. Institutional access to Tron widened during the quarter, with Securitize launching Hamilton Lane's tokenized Senior Credit Opportunities Fund on the network.