In September 2026, the TRON network processed approximately 73% of the total stablecoin transaction volume, significantly outpacing Ethereum, which accounted for about 15%. This activity is supported by a record supply of USDT on the TRON blockchain, which reached roughly $92.7 billion in the third quarter of 2026.
According to the TRON DAO Q3 2026 report, total stablecoin settlement volume reached $2.2126 trillion, representing a 5.1% increase from the previous quarter. This equates to a daily average of approximately $24.05 billion. Network transactions rose to 1.1 billion, marking a 33.7% year-over-year increase.
By the end of the third quarter, TRON's share of the total stablecoin market capitalization grew to 30.2%, compared to 28.7% in June. While the total global USDT supply remained stable at $184 billion, TRON now hosts nearly half of all circulating Tether.
Financial performance for the network included the generation of $82.7 million in protocol fees during the third quarter. Additionally, on September 9, the Canary Staked TRX ETF launched on the Cboe BZX exchange, providing investors with exposure to the TRX token and staking rewards.
The native TRX token saw a 7% price gain during the period and was identified as the least volatile asset among the CoinDesk benchmarked set. The network's growth is attributed to an increase in small-value transfers, suggesting broader adoption for everyday payments and remittances.
