TRON Tops $500B in Stablecoin Volume, Eyes Growth

Key Takeaways
- TRON remains the leader in stablecoin transactions, with over USD 500 billion in monthly volume.
- Whales are increasing their TRX holdings, while retail investors are taking profits.
- The introduction of the “Gas Free” feature makes it easier for new users to access the network.
- DeFi activity on TRON remains stable, with over USD 6.8 billion in Total Value Locked (TVL).
- High long positions in the futures market indicate bullish sentiment but also carry risks.
TRON’s Dominance in Stablecoin Transactions
TRON has once again established itself as the leading network for stablecoin transfers. Since November 2024, monthly transfer volume has consistently exceeded USD 500 billion — a clear sign of ongoing trust from both institutional and retail users. USDT (Tether) is especially preferred on TRON. The launch of the “Gas Free” feature, which allows transaction fees to be paid directly in USDT, has significantly lowered the barrier for new users.
On-Chain Activity: Growth with Minor Setbacks
The total number of transactions on TRON recently surpassed the 10 billion mark. More than 8 million transactions are processed daily. New wallets increased by 1.53%, indicating continued interest. At the same time, the number of active addresses slightly declined by 0.76%. Addresses with zero balance also decreased by 2.24%. These figures suggest that while some users have reduced their activity, new users continue to join the network.
Whales Expand Their Positions
Large investors — known as whales — have increased their TRX holdings by 0.79% over the past 30 days. In contrast, retail investors and smaller holders reduced their positions by 3.09% and 1.93%, respectively. This shift points to a long-term strategy by large investors. Historically, such accumulation phases by whales can be a precursor to rising prices, provided demand remains stable.
Derivatives Market: Opportunities and Risks
On the trading platform Binance, 84.33% of accounts hold long positions in TRXUSD perpetual contracts. The long/short ratio stands at 5.38 — a clear sign of a strong bullish market environment. However, this one-sided positioning also carries risks. If the price drops in the short term, many long positions could be liquidated, potentially triggering a so-called long squeeze. Despite a daily loss of 2.41%, leverage on the long side remains high.
DeFi on TRON: Stable Despite Volatility
TRON’s DeFi ecosystem remains robust. The Total Value Locked (TVL) stands at USD 6.861 billion, despite a slight 0.69% decline over the past 24 hours. The platform benefits from a wide range of decentralized applications (dApps), particularly in the areas of stablecoins and staking. This stable capital base strengthens the network against market fluctuations and supports the TRX price.
Our Assessment
TRON continues to demonstrate strength as a platform for stablecoin transactions, particularly for USDT. The combination of high transaction activity, growing whale interest, and stable DeFi usage points to a solid network foundation. However, you should keep an eye on the risks in the derivatives market and the slight decline in user activity. If demand remains high and development continues steadily, TRON could further solidify its position as the preferred settlement layer for stablecoins.
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Sources
- CryptoQuant
- IntoTheBlock
- Binance
- CoinGlass
- DefiLlama