Geneva, Switzerland – August 8, 2025 – CoinDesk Data, the institutional research and analytics arm of CoinDesk, a leading media outlet in the cryptocurrency and blockchain industry, has published a comprehensive protocol report on TRON. The report offers a detailed analysis of TRON’s performance in the first half of 2025, highlighting its continued leadership in stablecoin settlements, rapid user growth, and increasing influence on global financial inclusion.

The Protocol Research Report: TRON Network examines how TRON’s innovative bandwidth and energy model enables near feeless transactions, while its Delegated Proof of Stake (DPoS) consensus, secured by 27 Super Representatives, enables high throughput of up to 2,000 transactions per second. The findings reaffirm TRON’s status as the leading settlement layer for stablecoins, facilitating the majority of peer-to-peer on-chain transactions across key regions including Latin America, Asia, and Africa.

Key Insights from CoinDesk: 

• USDT currently represents 61% of the global stablecoin market capitalization, with 50% of all USDT currently on Tron, highlighting the crucial role of the chain within the stablecoin sector.
• A breakdown of USDT transaction sizes on TRON reveals that the majority are lower-value transfers, reflecting strong usage among retail users and remittance-focused entities. Around 60% of all USDT transactions on TRON are under $1,000, indicating strong adoption among everyday users and high-frequency transaction patterns.
• Data from 31 stablecoin payment companies found that TRON was the most-used blockchain for stablecoin transfers in 35 of the 50 countries included in the analysis.

The research findings reaffirm TRON’s successful evolution into a core component of global financial infrastructure, combining technical sophistication with real-world utility to serve millions of users worldwide. With its demonstrated capacity to process high transaction volumes while remaining accessible and cost-effective, TRON continues to lead in expanding access to digital financial services and positioning blockchain as a practical alternative to traditional payment systems.

Read the full report from Coindesk here. 

About TRON DAO

TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.

Founded in September 2017 by H.E. Justin Sun, the TRON blockchain has experienced significant growth since its MainNet launch in May 2018. TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin, exceeding $82 billion. As of August 2025, the TRON blockchain has recorded over 323 million in total user accounts, more than 11 billion in total transactions, and over $26 billion in total value locked (TVL), based on TRONSCAN.

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Key Takeaways

• IBIT was launched at the beginning of last year, alongside a wave of spot Bitcoin ETFs.  They sought to provide investors with direct exposure to Bitcoin’s spot price within a regulated framework.
• Since its debut, IBIT has quickly established itself as the market leader among spot BTC ETFs. Recently, it reached a new all-time high in AUM and solidifying its place as the most successful ETF tracking Bitcoin’s spot price.

Akriti Seth is a Zurich-based Business Journalist and Crypto Editor. Her passion for journalism has taken her across the globe – from thriving as an on-television correspondent to writing engaging articles, she has worked for companies like Informa UK, Bloomberg… Read More

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June 26, 2025 – Geneva, Switzerland – TRON DAO announced today that the total circulating supply of USDT on the TRON blockchain has exceeded $80 billion, further cementing TRON’s position as the top blockchain for USDT activity. With USDT holding more than 63 percent of the global stablecoin market and surpassing 155 billion dollars in circulation, over half of that supply is issued on TRON. Since January 2025, the supply of USDT issued on the TRON network has grown by approximately 20 billion, according to a data platform Token Terminal. TRON continues to lead all blockchain networks in USDT issuance, transaction volume, and daily user activity. 

TRON has established itself as the preferred settlement network for stablecoins, hosting around 60 percent of payment transaction volume. Its scale and efficiency continue to position it as the backbone for digital dollar movement across borders and diverse financial applications.

As of June 2025, TRON processes over 8.9 million daily transactions and has surpassed 315 million total user accounts. Additionally, the network facilitates an average of $21.5 billion in daily USDT transfers. With over 1 million unique wallets transacting USDT each day, TRON also leads in active stablecoin wallet usage, representing 28 percent of global active addresses. 

With stablecoins playing an increasingly important role in cross-border settlement, financial access, and dollarization in emerging markets, TRON has established itself as one of the most widely used blockchain networks in the world. Its combination of scale, speed, and low transaction costs has made it the preferred environment for stablecoin activity worldwide.

“TRON’s success is grounded in its alignment with the core values of crypto—openness, user empowerment, and real-world utility,” said Justin Sun, founder of TRON. “USDT on TRON has become the go-to choice for millions of people because it works—it’s fast, efficient, and easy to use. The TRON ecosystem remains focused on building reliable infrastructure for the next generation of digital finance.”

TRON’s leadership in the stablecoin space continues to evolve to meet growing institutional demand. In April 2025, World Liberty Financial chose TRON to launch its USD1 stablecoin, which began minting earlier this month. Additionally, the TRON ecosystem has deepened its focus on financial compliance through the T3 Financial Crime Unit (T3 FCU), a joint initiative with Tether and TRM Labs. Since launch, T3 FCU has worked with law enforcement agencies worldwide to freeze over $160 million linked to illicit activity.

As the digital dollar economy continues to expand, TRON remains a core pillar of the infrastructure driving greater efficiency and financial inclusion.

About TRON DAO

TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.

Founded in September 2017 by H.E. Justin Sun, the TRON blockchain has experienced significant growth since its MainNet launch in May 2018. TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin, exceeding $80 billion. As of June 2025, the TRON blockchain has recorded over 315 million in total user accounts, more than 10 billion in total transactions, and over $21 billion in total value locked (TVL), based on TRONSCAN.

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Ripple’s stablecoin RLUSD expanded its circulating supply by 29% in the week ended June 8, adding $72.5 million and closing at $320.6 million.

The movement marks the first time the token’s float crossed the $300 million threshold. Additionally, it represents a sixfold increase since the launch of RLUSD on Dec. 17, 2024.

Data from Artemis shows the additional issuance coincided with a 38% increase in weekly transfer volume, which climbed to $648.1 million from $469.7 million seven days earlier. 

It is close to the weekly transfer volume peak registered between April 21 and 27, when users moved $741 million using RLUSD.

Yet, the token accounts for roughly 0.1% of the $236 billion stablecoin market. USDT, the largest dollar-pegged stablecoin, grew 0.57% to $157.9 billion, while USDC edged 0.33% lower to $59.6 billion. 

Smaller issuers such as PYUSD and USDS posted single-digit percentage gains.

Ripple mints RLUSD under a New York trust-company license and records each token against short-term Treasurys and cash held in regulated accounts. 

The company burned no tokens during the measurement window, indicating net new creation rather than re-issuance of previously redeemed supply.

UAE approval opens new distribution channel

The fresh issuance arrived days after the Dubai Financial Services Authority approved RLUSD for use inside the Dubai International Financial Centre. 

Ripple plans to integrate the stablecoin with its DFSA-licensed payments platform, enabling up to 7,000 locally regulated firms to settle transactions in the token.

Ripple’s managing director for the Middle East and Africa, Reece Merrick, said demand for digital-asset settlement and custody is growing “fast across the region” and called the UAE’s digital economy “vibrant and dynamic.” 

The DFSA nod grants RLUSD both US and international regulatory recognition, positioning the coin alongside USDT and USDC, which already operate in the emirate.

The stablecoin is also in Ripple’s roadmap following the acquisition of the prime brokerage platform Hidden Road. The crypto firm will integrate RLUSD into Hidden Road’s services as part of its $1.25 billion deal.

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May 19, 2025 – Geneva, Switzerland – TRON DAO announced today that the total circulating supply of Tether (USDT) on the TRON blockchain has surpassed $75 billion, once again making TRON the leading network for USDT. As the most widely adopted stablecoin, Tether represents more than 63 percent of the global market share with over $150 billion in circulation. Over 50 percent of that supply is issued on TRON – the #1 network among all blockchain networks for USDT total issuance, total transaction volume, and daily active users.

As of May 2025, TRON supports over 8.3 million daily transactions and has surpassed 306 million user accounts on the blockchain. The network processes an average of $20 billion in daily USDT transfers. TRON leads in total transfer volume, facilitating nearly 29 percent of all stablecoin transaction value globally, reflecting its growing role as the preferred settlement network. TRON also leads in active user engagement with over 1 million unique accounts transacting USDT daily, accounting for 28 percent of all active stablecoin wallet addresses across blockchains.

Accounting for over 55% of all USDT transaction volume, USDT on TRON continues to experience sustained and accelerating growth, reflecting rising global demand for efficient, low-cost, and reliable digital dollar infrastructure. This milestone reflects TRON’s role in enabling a wide range of real-world financial use cases, from high-volume retail payments to institutional-scale transactions. 

As global demand for stablecoins grows, particularly for cross border settlement and financial access, TRON has become a trusted and widely adopted blockchain network, offering the scale, speed, and efficiency required to support stablecoin transactions at a global level. 

“TRON’s growth is driven by a strong alignment with the core values of the crypto industry, including financial freedom and individual empowerment,” said Justin Sun, founder of TRON. “USDT on TRON has become the preferred choice for millions of users around the world because it is fast, stable, and accessible. The focus remains on delivering real world utility and building strong network effects that make TRON the leading platform for stablecoin transactions.”

The circulating supply of USDT grew by approximately 7 billion dollars in the first quarter of 2025, alongside an increase of 46 million user wallets. This growth reflects rising trust in Tether’s transparency and its role as a reliable representation of the U.S. dollar. It also reinforces USDT as a stable, efficient, and accessible on-ramp to the global economy.

As TRON continues as the leading network for USDT,  its ecosystem is evolving to meet the growing institutional demand for secure, scalable, and secure digital asset infrastructure. In April 2025, World Liberty Financial selected TRON to integrate their stablecoin, USD1. TRON and Tether have also deepened their commitment to financial integrity through the T3 Financial Crime Unit (T3 FCU), a joint initiative with TRM Labs. Since its launch, the T3 FCU has collaborated with global law enforcement agencies to freeze over $160 million in illicit funds.

About TRON DAO

TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.

Founded in September 2017 by H.E. Justin Sun, the TRON blockchain has experienced significant growth since its MainNet launch in May 2018. TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin, exceeding $75 billion. As of May 2025, the TRON blockchain has recorded over 306 million in total user accounts, more than 10 billion in total transactions, and over $23 billion in total value locked (TVL), based on TRONSCAN.

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Yeweon Park
[email protected]

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Tether USD (USDT) has surpassed $150 billion in circulating supply amid stablecoins averaging over $521 billion in weekly transfer volumes in 2025,

The metrics posted by the leading stablecoin are well above the combined weekly volumes of Visa and PayPal, which averaged $319 billion and $32 billion, respectively.

Tether described the milestone as the culmination of over a decade of development since its 2014 launch, attributing the growth to global demand for USDT from over 400 million users. 

USDT now represents 63% of the total stablecoin supply, nearly $238 billion as of May 12.

Growing volumes

Artemis data shows the growing dominance of stablecoins in transactional finance. During the week of Jan. 20, stablecoins processed approximately $654.9 billion, exceeding the combined Visa and PayPal volume of $351.2 billion by more than $303.7 billion. 

Other weeks with large spreads included Jan. 13 ($282.1 billion), Jan. 6 ($278.9 billion), Jan. 27 ($266.3 billion), and Feb. 3 ($242.5 billion), demonstrating a consistent margin of leadership during the start of the year.

On average, stablecoins moved $521.3 billion in weekly value throughout 2025, surpassing Visa by 63% and outpacing PayPal by over 1,500%.

The momentum is boosted by traditional financial companies recent push into the stablecoin sector due to expectations of a friendlier regulatory environment under President Donald Trump’s administration.

Adapting to the market

This strong performance comes after stablecoins reached $24.6 trillion in transfer volume last year, surpassing Visa and Mastercard combined volumes by 7.7%.

However, the traditional payments landscape giants are quickly adapting to this new reality and contributing to these developments.

Visa announced a platform to help banks tokenize fiat currencies in October 2024, resulting in more stablecoins. Moreover, the payment firm recently launched stablecoin-powered cards in Latin America.

Meanwhile, Mastercard reported to the US Securities and Exchange Commission (SEC) the tokenization of 30% of its 2024 transactions. Like Visa, Mastercard also announced a card that allows users to make payments with stablecoins.

PayPal launched its stablecoin, the PayPal USD (PYUSD), in August 2023. After surpassing $1 billion in circulating supply in August 2024, PYUSD’s market cap slowly slid below $450 million in December of the same year.

However, PYUSD adoption recently picked up, climbing 95% since February to nearly $930 million as of May 12.

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