TRON Surpasses Ethereum in USDT Circulation in Q2 2026

The TRON blockchain achieved a significant milestone in the second quarter of 2026, surpassing Ethereum in the circulation of the stablecoin USDT and processing trillions of dollars in transfers, according to a report from the analytics firm Messari. The network's performance highlights its growing role as a major payment rail, even as other segments of its ecosystem showed mixed results.

The Messari report, published on August 10, 2026, details that TRON ended the second quarter with 87.9 billion in circulating USDT, a figure that exceeded Ethereum's holdings of the same token. During the quarter, which ran from April 1 to June 30, 2026, the network processed 2.1 trillion in USDT transfers. This activity was a primary driver of network growth, with USDT accounting for 98.5% of TRON's total stablecoin market. The overall stablecoin supply on the network grew 4.1% quarter-over-quarter to a record 89.2 billion.

The surge in stablecoin activity coincided with record network usage. TRON averaged 11.8 million daily transactions in the second quarter, an increase of 8.7% from the prior period. Average daily active addresses also climbed 11.7% to 3.6 million. The network's peak...