TRON, the layer-1 blockchain based by Justin Solar, ended the second quarter with $87.9 billion in circulating USDT (USDT), surpassing Ethereum (ETH) whereas processing $2.1 trillion in USDT transfers throughout the interval.
Based on a Messari report, USDT accounted for 98.5% of TRON’s stablecoin market, which grew 4.1% quarter-over-quarter to a file $89.2 billion. Common every day USDT switch quantity additionally returned to progress, rising 4.3% to $22.8 billion after declining within the first quarter.
The rise coincided with file community utilization. TRON averaged 11.8 million every day transactions throughout the quarter, up 8.7%, whereas common every day lively addresses climbed 11.7% to three.6 million. The community processed a file 14.6 million transactions on June 15, the report stated.
State of TRON Q2 2026 report. Supply: Messari
Increased exercise additionally helped reverse a two-quarter decline in community charges. Charges rose 15.9% to $699.4 million, their first quarterly enhance since an August 2025 governance change lower the community’s vitality unit value.
Development was uneven elsewhere. DeFi TVL slipped 1.9% to $4.4 billion, whereas common every day DEX quantity fell 21.7% to $49.3 million, marking a fourth consecutive quarterly decline. TRX provide additionally remained inflationary regardless of larger exercise, with circulating provide rising by 87 million tokens throughout the quarter as issuance continued to outpace burns.
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TRON expands institutional entry
Institutional entry to TRON widened throughout the quarter, with Securitize launching Hamilton Lane’s tokenized Senior Credit score Alternatives Fund on the community, its first TRON-issued asset. The fund launched with about $4.3 million underneath administration.
Asset supervisor Grayscale additionally added TRX (TRX), the native token of the TRON blockchain, to its checklist of property into consideration, whereas a proposed staked TRX exchange-traded product from Canary Capital remained in registration.
In the meantime, TRX noticed broader market entry throughout the quarter. Bitnomial launched spot TRX buying and selling in america, whereas OKX Europe launched MiFID-regulated TRX expiry perpetuals and Binance.US restored buying and selling within the token.
That pattern continued after the quarter ended, with Anchorage Digital including native TRX staking and custody for TRC-20 property in July, permitting institutional shoppers to stake TRX immediately from its custody platform.
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