Tron's USDT Dominance Surpasses $82 Billion Amid Rising Network Activity

Tron has recently reached a significant milestone in its stablecoin ecosystem, with the Tron network now holding over $82 billion worth of USDT—accounting for approximately 51% of the stablecoin's total market cap [1]. This growth has been driven by Tron's emphasis on low-cost and rapid blockchain infrastructure, which has attracted increased demand for stablecoin minting and transfers [2]. The network’s total stablecoin market cap surpassed $83 billion in the last 24 hours, highlighting the strong adoption of USDT on the platform [3].

The expansion in stablecoin usage has also had a direct impact on Tron’s network performance. Daily transfer volume on the network surged by 67% year-over-year, with the stablecoin-driven activity contributing to a consistent rise in daily chain revenue—frequently pushing above $2 million [4]. The network has also recorded notable on-chain milestones, including cumulative stablecoin transfers exceeding $15 trillion and over 10 billion transactions since early 2020 [5]. Tron’s dominance in USDT usage has resulted in higher daily transaction volumes compared to competing networks like Ethereum.

The growth in USDT on Tron has also led to a significant rise in the number of addresses holding TRX. As of August 4, there were 136.45 million TRX addresses with a balance—up from approximately 16.44 million in April 2021 [6]. This increase in address activity has likely supported TRX’s recent price performance, which has remained bullish. However, recent data shows signs of potential market shifts. TRX dominance in the broader crypto market dropped from 0.87% to 0.82% over the past two days, echoing a similar pattern in June that was followed by a price pullback [7]. The token has faced resistance at the $0.34 price level, and technical indicators like RSI and MFI suggest declining momentum [8].

Additionally, the funding rate for TRX derivatives turned negative for the first time in four weeks, and spot flows have shifted to net outflows since Thursday [9]. These signals indicate potential downward pressure on the token’s price, although whale activity continues to favor the upside, which could mitigate short-term bearish momentum [10]. While Tron’s stablecoin growth has bolstered network activity and revenue, it also exposes the platform to broader market volatility and the risk of a correction if sentiment turns bearish.

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[1] [2] [3] [4] [5] [6] [7] [8] [9] [10]

[1] Tron Celebrates New Stablecoin Milestone But Risks This (https://coinmarketcap.com/community/articles/6898b770d3f2f1289a1530aa/)