Tron recorded $87.9 billion in circulating USDT in the second quarter, overtaking Ethereum.

Cointelegraph reported on Sunday that Tron processed $2.1 trillion in USDT transfers over the same period, and that stablecoin supply and network activity also hit record highs.

A Messari report said Tron's stablecoin supply rose 4.1 percent from the previous quarter to $89.2 billion. USDT accounted for 98.5 percent of that total. Average daily USDT transfers rose 4.3 percent to $22.8 billion, rebounding after a first-quarter decline.

Network use also expanded. Average daily transactions rose 8.7 percent to 11.8 million, while average daily active addresses increased 11.7 percent to 3.6 million. Transactions hit a quarterly high of 14.6 million on June 15.

The rise in activity led to a renewed increase in Tron network fee revenue. Quarterly fees climbed 15.9 percent to $699.4 million. The decline over the previous two quarters stopped after network energy unit prices fell following a governance change in August 2025.

By contrast, DeFi and decentralised exchange activity declined. Total value locked in DeFi fell 1.9 percent to $4.4 billion, and average daily decentralised exchange trading volume dropped 21.7 percent to $49.3 million. Decentralised exchange volume fell for a fourth straight quarter. TRX supply also rose by 87 million during the quarter, extending an inflationary condition in which issuance exceeded burning.