TRON's DeFi Ecosystem Sees 300% Deposit Surge Driven by Stablecoin Demand

TRON's decentralized finance (DeFi) ecosystem has seen a significant surge in activity, with SunSwap posting over $3 billion in monthly swaps in 2025. This growth is indicative of the increasing demand for $TRX-based financial instruments, as evidenced by the tripling of deposits and borrowing volumes on JustLend, a lending protocol on the TRON network.

JustLend's borrowing value spiked to $45 million in February and has maintained a level of over $10 million into June. This surge in activity is driven by the rising demand for stablecoins such as $USDT, $USDD, and $TRX. While $ETH and $BTC are still present on the network, they contribute significantly less volume compared to the native TRON tokens. Lending deposits on JustLend have also tripled from previous averages, peaking at $740 million in 2025. This trend, which started in January, has held steady, with consistent inflows into $USDT and $TRX across key sessions.

SunSwap, the liquidity engine of the TRON network, has cleared over $3 billion in swap volume monthly throughout 2025. In May, SunSwap's volume exceeded $3.8 billion, setting a new record. The WTRX token volume pushed past 20 billion tokens during its late 2024 rally, indicating rising usage beyond speculative flow. These metrics show more structured exposure by institutions and on-chain protocols alike. From 2020 to mid-2023, SunSwap activity stayed relatively flat, with only short bursts. However, since Q4 2023, growth has turned consistent, showing strong user engagement and capital deployment.

On June 25, TRON processed $24.3 billion in daily USDT transfers, a new all-time high for the network. This puts TRON’s current volume at more than double Ethereum’s $9.9 billion. Ethereum previously led stablecoin flows, but that shifted in early 2023 as TRON gained momentum. This trend reflects user preference for speed, cost, and availability — all areas where TRON is expanding its edge. TRON’s uptrend remains intact, while Ethereum’s volume has declined 39% since November 2024. This further underscores TRON’s rise as USDT’s core settlement network.

SRM Entertainment, a company involved in physical theme park merchandising, staked 365 million $TRX on JustLend, targeting a 10% annual yield through staking and energy rentals. The firm aims to convert its treasury into on-chain income. Following the announcement, SRM shares surged 13.5%, pushing the market cap to $150 million. The company will rebrand to “Tron Inc.” and continue operating in its existing sector.

This surge in activity on the TRON network highlights the growing demand for DeFi services and the increasing adoption of stablecoins. The network's ability to process large volumes of USDT transfers at a lower cost and faster speed compared to Ethereum is a significant factor in its rising popularity. The involvement of institutions and on-chain protocols in the TRON ecosystem further validates its potential as a leading DeFi platform.